{{dayPoint.date | date : 'd MMMM yyyy'}}

{{newsPoint.title}}

{{newsPoint.title+ ' '}}

{{newsPoint.subtitle}}

Russian Finance Ministry to review 2016 budget in Q1 due to lower oil prices

According to Vedomosti business daily and Reuters news agency, Russian ministries and departments are due to outline expenses to be cut by 10% in 2016 before January 15

© AP Photo/Hasan Jamali, File

Read also

Russian economy in lingering recession, hoping for recovery

MOSCOW, January 12. /TASS/. Russia’s Finance Ministry may review 2016 budget in the first quarter due to lower oil prices after it’s accorded with macroeconomic forecast of the Economic Development Ministry, a federal official familiar with the matter told TASS on Tuesday.

"In the first quarter," he said when answering the question when 2016 budget parameters may be reviewed.

Earlier Russia’s Finance Minister Anton Siluanov said 2016 budget might be partially reviewed in end-2015 though there were no reports about such revisions. In end-December Siluanov said the government had prepared a list of measures regarding expenditures, including budget revision, and mentioned extension of privatization program, particularly regarding Russia’s biggest oil producer Rosneft, among potential measures to increase budget revenue base.

According to Vedomosti business daily and Reuters news agency, Russian ministries and departments are due to outline expenses to be cut by 10% in 2016 before January 15, and submit the information to the Finance Ministry, otherwise the latter will forcedly reduce budget limits by 10%.

Read also

Russia’s 2016 federal budget is based on the Urals crude oil price at $50 per barrel while at the moment the price is below $29 per barrel.

The budget projects revenues of 13.738 trillion rubles (about $196 billion) and expenditures of 16.099 trillion rubles ($229.9 billion) with a budget deficit of 2.36 trillion rubles ($33.9 billion) or 3% of GDP.

The 2016 budget is based on the inflation rate of no more than 6.4% (December 2016 on December 2015). Russia’s GDP is projected at 78.673 trillion rubles ($1.12 trillion) in 2016.

Tags

Economy Oil & Gas Oil price

Russia presents world’s first hydrogen-fueled luxury car at Innoprom exhibition

The unique vehicle was built on the basis of the Aurus Senat luxury car

Russia looking to open diplomatic missions in South Sudan, Niger, Sierra Leone — diplomat

According to Alexey Klimov, in 2023, almost 30,000 temporary entrance (return) permits were issued abroad and over 460,000 foreign passports were issued

Army officer some media point to as Nord Stream blasts coordinator goes missing in Ukraine

The man, Roman Chervinsky, was under arrest in the case of a failed operation to recruit a Russian pilot

Top Security Council official meets with Cuban interior minister, foreign counterparts

Nikolay Patrushev also held talks with Brazilian Special Advisor for International Affairs Celso Amorim

Top Hungarian diplomat warns US-NATO-EU competition in Ukraine could spark WWIII

"Preparations for a world war are intensifying in Brussels," Peter Szijjarto warned

Moldovan opposition announces creation of Pobeda political bloc

Among representatives are Governor of the autonomous Gagauzia region of Moldova Yevgenia Gutsul and parliamentary deputy Marina Tauber

Russia recovers black boxes from crashed Tu-22M3 bomber

According to the law enforcement, the search for the fourth crew member is ongoing

Involvement of NATO states prolongs Ukrainian conflict — Russian ambassador to Germany

"Ukraine today is fully dependent on supplies of Western weapons, military hardware, ammunition, financing, intelligence, and assistance from military advisers," Sergey Nechayev said

Gagauzian leader on unity of Moldova’s opposition, ability to watch Russian TV channels

Yevgenia Gutsul underlined that Gagauzia plans to start exporting products to Russia in the near future

Russian troops destroy four boats with Ukrainian assault force on Dnieper River

Russia’s Dnepr Battlegroup inflicted casualties on the 141st, 65th and 128th brigades of Ukrainian armed formations, delivered strikes on temporary deployment sites, military hardware and artillery positions of the Ukrainian army on the right bank of the Dnieper River, Vladimir Saldo said

Kremlin vows legal action against US bill on seizing Russian assets

Dmitry Peskov noted that the trial will be "very complex," but will cause severe damage to US economic interests if the US authorities finally approve the bill regarding Russian assets

US 'not forgetting' to help itself with aid to Ukraine — Kremlin

"In any case, whatever the modality of providing this aid, de facto it is about provoking Ukraine into further hostilities down to the last Ukrainian, putting guarantted money in the pockets of the US," Dmitry Peskov said

EU reacts to worsening of situation for Ukraine by preparing for new world war — Szijjarto

The Hungarian Foreign Minister noted that the participants of the EU foreign and defense ministers meeting "did not challenge the information about the degree of Russia’s arms superiority"

Russian troops level off frontline near Kremennaya in LPR for further advance

Russian combat aircraft and artillery "have begun to operate more intensively" at that frontline, delivering "precision strikes" on the Ukrainian army, Andrey Marochko said

Russian ambassador criticizes Germany for lack of answers in spy case

During the visit to the German foreign ministry on April 18, 2024, we did not receive any answers to our questions, Sergey Nechayev said

North Korea stages first combined tactical drill simulating nuclear counterattack — KCNA

The drill’s main purpose is to demonstrate the reliability, superiority, might and diverse means of the DPRK's nuclear force

Lavrov slams West for promoting 'dishonest schemes' for restrictions on nuclear weapons

The top Russian diplomat stressed that "striving to attain decisive military superiority, Washington and its allies are enlarging the network of alliances directed against third countries"

Pobeda bloc expects global community to respond to struggle against opposition in Moldova

The opposition suggests that Moldovan President Maia Sandu is behind the law enforcement officers’ actions

Russia to incorporate US nuke scenario in Poland in its military planning — diplomat

"Poland’s authorities make no secret of their striving to lean closer on the US nuclear weapons deployed in Europe and are actively using these ambitions in their hostile Russian policy," Maria Zakharova stressed

Dollar almost completely gone from Russia-China trade relations — Lavrov

"The supply of our agricultural products to the Chinese market is growing," the top Russian diplomat noted

Ukraine lost best fighters near Artyomovsk, retired general says

Sergey Krivonos added that relocation of troops from one direction to another will not solve Ukrainian forces’ problems, and that each fighter should be used according to their specialization

Moldovan authorities try to present Gagauz as separatists — official

Earlier, Yevgenia Gutsul noted that the Gagauz autonomy would withdraw from Moldova if Chisinau decides it wants to unify with Romania

Russia invites all countries to develop North - South transport corridor — Putin

"The North-South transport corridor should become an example of the broadest international cooperation," the Russian leader said

New US military aid will not prevent end of Kiev regime — Russian mission to the UN

"That’s what happens when the head of state doesn’t care about his own people and sells out his country," Dmitry Polyansky said

Revival Party leader released after being questioned by Moldovan special services

According to Natalia Parasca, around 100 delegates to the Moldovan opposition forum in Moscow were held at the Chisinau airport for about three hours

Russian missile cruiser Varyag enters Mediterranean Sea

The ship's crew continues to fulfill the mission it was given for the long-range voyage

TikTok criticizes bill that would ban platform in US as free speech violation

On April 20, the House passed the legislation that would ban the platform in the United States unless the Chinese owner, ByteDance, sells its stake within a year

Russian troops liberate Novomikhailovka community in DPR — top brass

Russia’s Battlegroup West repulsed four Ukrainian army counterattacks over the past day, the Defense Ministry reported

Chinese car plant to start production at former Mercedes site in Moscow region in May

Earlier it was reported that the German automobile concern Mercedes-Benz plans to sell its enterprise located in the Solnechnogorsk district of the Moscow region

Armenia remains engaged with CSTO — head of post-Soviet security bloc

Imangali Tasmagambetov noted that "relations between the CSTO and Armenia, which is a member state of our organization, are far from being at their best"

Confiscation of Russian assets by the US to affect Europe more — expert

The US decision may provoke panic among investors that would start withdrawing their funds from European banks, being concerned of their freeze and further confiscation

North Korea presumably launches ballistic missile — Japan Coast Guard

This is North Korea’s fourth ballistic missile launch this year

Builders from Azerbaijan participate in BAM upgrade — Putin

"Design engineers and construction workers from Azerbaijan built two settlements with terminal facilities during BAM construction - Ulkan and Angoya," the Russian President said

Cossack Brigade ‘Dnieper’ takes out two Ukrainian boats at Kinburn Spit

The spy boats managed to come at such a close distance for the first time since the Dnieper brigade started to hold these positions on the Kinburn Spit, the brigade’s commander sayd

Ukraine’s military intelligence chief recognizes Russia’s success in Avdeyevka

Ukrainian troops suffered significant losses in the fighting for the control of this town

Scholz says era of fossil fuel will be over soon

The chancellor also said Germany will make every effort to produce 80% of its energy from renewable sources by 2030

Dollar exchange rate down to 93.29 rubles on Moscow Exchange, euro up to 99.4 rubles

The yuan added to 12.851 rubles

Conflict in Ukraine can be over by end of 2025, Hungary’s Orban believes

Prime Minister said that it is possible if proponents of peace, not war, win the June elections to the European Parliament and the US Presidential elections in November

Ukraine turns from sovereign country into Western protectorate, Hungarian PM says

Viktor Orban noted that there should be a buffer zone between NATO and Russia and Ukraine could serve as one

Switzerland unblocks Russia-related assets worth 290 mln Swiss francs

The total amount of blocked assets of the Russian Federation decreased by 150 million Swiss francs (about $165 million) due to the fact that a number of individuals "were removed from the EU sanctions lists"

Over 280 recovered from mass grave at hospital in Khan Yunis — TV

The operation to recover bodies of people killed in Israeli bombardments continues in the city

Senior lawmaker threatens US with retaliation for 'stealing' Russian assets

"Now, our country has every reason to make symmetrical decisions against foreign assets," Vyacheslav Volodin said

US has no idea what to do about Zelensky — Seymour Hersh

According to the journalist, the decision to conduct the operation was made by US President Joe Biden personally, following nine months of discussions with White House national security advisers

Hamas leader wants to see Russia, Egypt, Turkey as guarantor countries for Gaza

Talking about the current situation in Gaza, Ismail Haniyeh noted that "the resistance is still strong"

US capitalizing on Israel-Palestinian conflict — Syrian president

America preys on any conflict and then steps aside to watch the growing havoc, waiting for a moment to deal a knockout blow, Bashar Assad said

London grants agrement to Zaluzhny as ambassador to UK — Ukrainian parliamentarian

This must be followed by a decree of the Ukrainian president on the appointment

Ukraine 'not in a position to win' against Russia — Spanish reserve colonel

"The Western world cannot accept Ukraine's defeat, because from the point of view of our security, a Russian victory in the war would be a failure," Francisco Rubio pointed out

Development of Baikal-Amur, Trans-Siberian railways important for Russia, CIS — Putin

The Russian leader recalled that Heydar Aliyev, the father Azerbaijani president Ilham Aliyev, supervised construction of the Baikal-Amur railway

Romanian rescuers find Ukrainian deserters who spent four days in mountains

Romanian media regularly report the discovery of young Ukrainians in the mountainous terrain on the Romanian-Ukrainian border

Flow of cargo traffic via North-South transport corridor to reach 60-100 mln tons

The presidents of Russia and Azerbaijan, Vladimir Putin and Ilham Aliyev, met with veterans, builders and employees of the Baikal-Amur Mainline on Monday

NATO’s backing of Kiev’s strikes beyond special op area makes peace unachievable — expert

"The position of the majority of Western states negatively affects the probability of a peaceful settlement of the conflict, creating a risk of further escalation," Jiraporn Ruamphongphatthana believes

Balticconnector gas pipeline returns to operation

The gas pipeline has its operations suspended on October 8 of the last year because of the detected leak

US accusing Russia of allegedly deploying nuclear weapons in space absurd — Lavrov

The foreign minister also pointed out that Russia is firmly committed to its international legal obligations, including the 1967 Outer Space Treaty

Moscow Zoo delegation arrives in North Korean capital — media

Russia and North Korea have intensified bilateral exchanges since late 2023

Russia’s Battlegroup West repels three attacks in past day, moving to better positions

Units of Battlegroup Center have improved their tactical positions

Russia sees tendency for Latin America to become one of multipolar world order centers

"The very fact that the Community of Latin American and Caribbean States returns back to its roots is a good sign," Russian Foreign Minister Sergey Lavrov said

Lenin Museum in Finland's Tampere to shut down in November

According to the report, the New Museum of Relations with the East will open on the same premises on February 15, 2025

Ukraine says Western systems ineffective against Russia's electronic warfare

Maria Berlinskaya emphasized that the real effectiveness was determined in real combat conditions, and not at "some training ground in Texas"

Press review: Dissecting US aid package to Ukraine and sands of global economy shifting

Top stories from the Russian press on Monday, April 22nd

International meeting of security representatives opening in St. Petersburg

Moreover, discussions within two theme-based roundtables will be held

US expert says more ATACMS won't alter battlefield dynamics in Ukraine

"There is no magic weapon, there is no series of weapons that could change this" situation for the Ukrainian armed forces, Scott Ritter said

Russian economy to see serious structural changes — presidential aide

"The first one is the technology agenda, the very large one, with huge demands for our own small, medium and large solutions," Maxim Oreshkin said

Russia firmly ready for peace solution in Ukraine — Kremlin spokesman

"There has been no new peace initiative, there has been a statement of the fact of Russia's readiness for a peace solution to the Ukrainian problem," Dmitry Peskov said

Over 40 nations want to join BRICS — Russian lawmaker

According to Grigory Karasin, many BRICS members share the opinion that the association should be in no hurry to adopt a strict charter, "seeing how counterproductively and even provocatively the European Union is acting"

Russian cabinet to discuss macroeconomic forecast

The agenda of the cabinet’s meeting also includes the consideration of the issue of ratification of the agreement on free trade between the Eurasian Economic Union and Iran

Almaz-Antey adapts air defense launchers for various missiles

Russian air defense launchers have a bigger range than US Patriot in Ukraine, Sergey Druzin said

Repaired strategic bomber Tu-22M3 re-enters service with Russia’s Aerospace Force

The bombers will get advanced precision weapons while their radio-electronic devices and engines will be similar to the equipment aboard the latest Tu-160M2 aircraft

New anti-Russian sanctions to include ban on LNG supplies — Swedish Foreign Minister

Tobias Billstrom deemed adopting the 14th sanctions package "one of the most important things"

WADA explains difference between Valieva’s case and Chinese swimmers’ violations

The fundamental point is that in the Valieva case there was nothing to exclude that that was the end of an excretion, that the pharmacological dose of trimetazidine hadn't been taken several days before

Belarusian air defense registers increased number of NATO aviation sorties

"This is dozens of sorties, carried out along the same routes, more or less", said Belarusian Air Force and Air Defense Deputy Commander Colonel Lieutenant Eduard Zhmakin

Current Russian turn eastward possible owing to Baikal-Amur railway — Putin

BAM personifies giant labor and courage of two million very young people from across the entire Soviet Union, the Russian leader said

Russian peacekeepers heading for temporary deployment centers in Armenia

The Armenian government provided Russian peacekeepers in Nagorno-Karabakh with places for temporary deployment in Goris and Sisian

Ukrainian troops fleeing Ocheretino in small groups, says DPR

"There is one more or less suitable road but it is also being shelled," adviser to the DPR head Igor Kimakovsky said

Destroyed TV tower in Kharkov carried Ukrainian air defense coordination device — official

Digital TV signal interruptions are now observed in the city

Russian peacekeepers leave Karabakh after Yerevan recognizes Baku’s state borders — Peskov

"Geopolitical realties in the region have changed and there are no more operational functions left for the peacekeepers," the Kremlin spokesman said

NATO, Poland made no decision on deployment of nuclear weapons — Andrzej Duda

Polish President pointed out that this issue is being raised during his meetings with NATO partners from time to time

West battlegroup destroys two Ukrainian drones, hit over 170 Ukrainian army’s facilities

The battlegroup’s spokesman Ivan Bigma said that a Gvozdika self-propelled system, nine mortar squads, two Furiya fixed-wing type unmanned aerial vehicles were destroyed

Knauf to transfer its Russian business to local management — company

To complete the transaction, the German company is yet to receive the approval from Russian authorities

Ukrainian intelligence predicts dire situation from mid-May onward

Kirill Budanov acknowledged that the Ukrainian army had long experienced problems on the frontline

South Korea threatens to end North Korean 'regime' in case it uses nuclear weapons

Extended deterrence refers to Washington's willingness to use all means, including nuclear, to defend an ally

No point in peace conference on Ukraine without Russia — top Hungarian diplomat

All parties involved in combat operations must meet at the negotiating table, Peter Szijjarto said

Russia's eyes open to nature of US sanctions — Kremlin

Dmitry Peskov added that the Russian authorities will try to minimize the effect of new EU sanctions against the country

Armenia purchasing only defensive weapons — PM

Yerevan's defense spending is 15-20% of what Azerbaijan spends on it, Nikol Pashinyan said

Russia ready to offer access to Asian markets to partners in BAM upgrade — Putin

"To this end we intend to implement plans of expedited upgrade of BAM, the Trans-Siberian Railway, development of the entire eastern range of railroads on the basis of advanced technologies," the Russian President said

Russia, Ukraine sought to agree on Crimea at Istanbul talks, Lukashenko says

On Tuesday, Vladimir Putin said Russia and Ukraine initialed an agreement in Istanbul, which he described as "not bad"

Damage to TV tower in Kharkov causes problems with digital TV signal

Earlier, Ukrainian media reported an explosion in Kharkov, which was cofirmed later by Mayor Igor Terekhov

West balancing on edge of direct military confrontation between nuclear powers — Lavrov

According to the top Russian diplomat, it is especially concerning that the three Western nuclear powers are among the key sponsors of the Kiev regime and the main initiators of various inflammatory moves

Lavrov speaks of West’s agony, Russia’s approach to any future talks with Kiev

The Russian foreign minister also described Armenia and Russia as more than formal allies

Russia expects Xi Jinping to attend BRICS summit in Kazan — Lavrov

On January 1, Russia assumed the rotating presidency of the BRICS group of nations, which currently brings together ten states

Assad says sure Russia will win conflict in Ukraine, re-unite brotherly peoples

Russia, in his words, is "correcting what others have done"

Mobilization law condition for new supplies of arms to Kiev by NATO — source

Arms supplies are only reasonable if a large number of military personnel able to use those weapons in defense and assault operations is available

Units of South battlegroup fully free Bogdanovka in Donetsk People’s Republic — top brass

The enemy lost up to 440 troops, three cars and an Osa-AKM air defense system, a 152mm D-20 weapon

Over 14,700 residential houses remain flooded in Russia

The source also said that 38,302 Russians have been evacuated from flooded areas and settlements potentially falling into these zones since the beginning of the spring floods

Transport National Project funding estimated at over $109.2 bln by 2030

"The greater portion is railroad projects - 60%," Russian Deputy Transport Minister Valentin Ivanov said

Russia becomes Europe’s first economy despite 'pressure from all sides,' Putin says

"We have left all of Europe behind in terms of purchasing power parity but as for the per capita indicator, we need to work harder," the Russian leader stressed

Russia’s UN envoy, Serbian leader discuss coordination on Kosovo at UN

They "exchanged opinions on a wide range of pressing bilateral and international issues while focusing on the situation in the Balkans," the Russian diplomatic mission to the UN said

Eleven Russians dead, 48 injured in Ukrainian strikes over week

Rodion Miroshnik pointed out that over the past week, Ukrainian forces fired "at least 1,278 rounds of ammunition" at the civilian facilities in the border regions

Qiwi projects $247 mln loss over sale of Russian assets

Moreover, Qiwi plc acknowledged impairment by $155 mln in 2023 due to the same reason

Chinese diplomat cautions US against 'demonizing' China-Russia relationship

The diplomat also called on Washington to "immediately stop imposing unilateral sanctions on Chinese companies and individuals"

Russia has significant amount of West’s funds in case of confiscation of its assets

Russia views the West’s encroachment on its assets as "a blatant and shameless theft for the purpose of lining its pockets," Maria Zakharova noted

Liberation of Novomikhailovka brings closer encirclement of Ugledar, says DPR official

On Monday, the Russian Defense Ministry said the village had been liberated