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Russia’s Finance Minister urges not to look optimistically at budget revenues in 2015

With the exchange rate at the level of 61.7 rubles per dollar, and the price of Urals crude oil at around $45 per barrel there are risks of reducing the forecasts for budget revenues, Siluanov says

© TASS/Artiom Geodakyan

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MOSCOW, October 23. /TASS/. The Russian Finance minister Anton Silyanov urged not to look optimistically at the budget revenues in 2015, he said Friday presenting amendments to the 2015 budget in the State Duma.

"Our colleagues from the Accounts Chamber loot at the volume of 2015 budget revenues somewhat optimistically. I mean when currently we see the exchange rate at the level of 61.7 rubles per dollar, and the price of Urals crude oil at around $45 per barrel — in such circumstances, of course, there are risks of reducing the forecasts for budget revenues, which we included in the amendments to the 2015 budget," he said.

According to the Minister, the increase in tax revenue for this year is a one-time measure.

According to the introduced amendments by the Finance Ministry, the budget revenues in 2015 will amount to 13.251 trillion rubles ($213.5 bln) against 12.54 trillion rubles ($202 bln) in the previous version of the budget, expenses — 15.42 trillion rubles ($248.4 bln) against 15.22 trillion rubles ($245.18 bln), budget deficit was reduced from 3.7% to 3% of the GDP.

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