US chess chief: No plot to oust current FIDE head, but it ‘would be good for the game’Sport March 28, 18:27
Putin-Rouhani meeting round-upWorld March 28, 18:23
Request for referendum against iconic Petersburg cathedral's transfer to church approvedSociety & Culture March 28, 18:13
US diplomat says Washington is pleased with Arctic cooperation with MoscowWorld March 28, 18:11
Russia, Iran express support for Damascus’ efforts to combat terrorismWorld March 28, 17:46
Finance Ministry to serve up VAT refund to foreign buyers of alcohol in RussiaBusiness & Economy March 28, 17:44
Top ten most expensive items sold by Sotheby'sSociety & Culture March 28, 17:25
Russia’s future spacecraft to be equipped with fully isolated toilet cabinScience & Space March 28, 17:03
Lavrov vows that Moscow won’t leave Donbass residents 'high and dry'Russian Politics & Diplomacy March 28, 16:19
MOSCOW, September 17. /TASS/. Budget deficit will reach 3% of GDP in Russia in 2015, Deputy Finance Minister Maksim Oreshkin said at Fitch conference on Thursday.
"Deficit will stand at around 3% of GDP by the end of the year," he said, adding that in 2016, under conservative forecast budget deficit will not exceed 3% of GDP in Russia either.
In 2016, the situation with budget deficit will most likely be managed despite the fact that revenues will slightly fall compared with the previous year, Deputy Minister said.
In Q1 2015, revenues were quite high due to a surge in retail sales and particular taxes in the oil sector, Oreshkin said. "Next year we won’t have such good results as we had in the first quarter. The key task here is to maintain deficit at the level of 3% of GDP in terms of expenditures," he said.
The Finance Ministry is gradually shifting to a model when budget deficit is fully financed using market borrowings without the Reserve Fund’s resources. According to the official, the plan is to shift to this model within 3 years.
According to the official, the Russian Finance Ministry may get round to 3-year planning of the budget in 2016.
"After 1-year budget next [year] I think we’ll get round to 3-year budget and will consider 2017-2019 budgets," he said.
Currently, it’s not quite reasonable to assume liabilities for 3 years, he added.