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Reducing Russian budget by 10% in 2016 saves $6.5 bln — official

February 26, 16:23 UTC+3 MOSCOW
Earlier Finance Minister Anton Siluanov said that the reduction of budget expenditures by 10% with the exception of the so-called protected articles would allow to save $6.8 bln
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© Vladimir Smirnov/TASS

MOSCOW, February 26. /TASS/. Reducing the budget by 10% in 2016 will save about 490 bln rubles ($6.5 bln), Deputy Finance Minister Yuri Zubarev said Friday.

"A 10% expected reduction of budget expenditures will give about 490 bln rubles ($6.5 bln)," Zubarev said, speaking at the plenary session of the State Duma.

Earlier Finance Minister Anton Siluanov said that the reduction of budget expenditures by 10% with the exception of the so-called protected articles would allow to save 512 bln rubles ($6.8 bln). Siluanov said that the ministries and agencies will receive the corresponding allowance for 2016, and then determine the priorities for it, and make decisions about choosing the most effective basic expenses and cutting inefficient spending.

Amendments to the 2016 budget could be presented in April.

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