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Budget costs to decline by 10% in 2015 and by 5% in 2016-2018 — anti-crisis plan

January 28, 2015, 12:48 UTC+3 MOSCOW

Obligations of social nature requiring extra allocations will be met in full

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© Vladimir Smirnov/TASS

MOSCOW, January 28. /TASS/. Budget costs will be cut by 10% in 2015 with a further decline by at least 5% in real value throughout 2016-2018, according to the anti-crisis plan published on Wednesday. The document was prepared in support of sustainable development of the economy and social stability in 2015.

The plan states the majority of federal budget costs will suffer a 10% cut in 2015, primarily on account of slashing ineffective expenditures.

Obligations of social nature requiring extra allocations will be met in full. Furthermore, expenditures related to national defense, support of agriculture and international undertakings will not be reduced.

Investment resources of the budget will be focused on completion of earlier initiated projects. Implementation of new projects will be partly postponed. Operational expenditures of governmental authorities will be cut, particularly on account of VIP services.

Proposals on mid-term optimization of the federal budget structure will be drafted further on the basis of a new macroeconomic forecast to be developed in connection with the adverse international environment. Costs will be cut by 5% at the least in three years. The balanced state of the budgetary system is to be achieved by 2017 against the most probable price level for the basic Russian export commodities.

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