Russian Duma delegation to take part in BRICS forum, IPU Assembly in GenevaRussian Politics & Diplomacy October 23, 2:11
Ceasefire in Syria violated 44 times in 24 hours — Russian reconciliation centerWorld October 23, 1:36
Russian national delegation would be more effective at US election — expertRussian Politics & Diplomacy October 23, 1:09
Russia looks to produce Zika vaccine in Nicaragua — health ministerSociety & Culture October 23, 0:20
Russian diplomat calls to compare death tolls in Iraq under Hussein vs under US ruleRussian Politics & Diplomacy October 22, 21:00
US-led coalition delivers air strike on civilian procession in Iraq — Defense ministryWorld October 22, 18:45
Gazprom supplies to Europe reach record-breaking 590 mln cubic meters on FridayBusiness & Economy October 22, 18:24
Minsk protests against Ukraine's forced return to Kiev of Belavia planeWorld October 22, 14:05
Russian Foreign Ministry: Militants in Aleppo fail assistance delivery, civilians outflowsRussian Politics & Diplomacy October 22, 14:03
SOCHI, September 30. /TASS/. The size of Russia’s budget pie has been getting smaller, and this kind of policy is most appropriate for the current period, Finance Minister Anton Siluanov said at the Sochi-2016 Forum.
"Indeed, the "pie" has become smaller. Everyone understands it, because we are now set for an improvement of its quality," the Minister said.
"It (the budget policy) is not increasing and is not aimed at isolation (of Russia) but it is appropriate for this period," he added.
The minister said Russia is ready to borrow foreign loans in yuan next year depending on technical readiness and market situation.
Small loans in yuan can be borrowed "as an experiment," Siluanov said. "We would like to attract resources of Chinese domestic investors investing currently into Chinese market instruments and invite investors from that market," the minister added.
The minister went on to say that Russia’s budget for 2019 will be based on average annual ruble’s exchange rate of 71.1 rubles per 1 dollar.
"The average annual exchange rate of the ruble for 2019 budget is 71.1 rubles per 1 dollar," he said.
"67.5 rubles per 1 dollar is for 2017 and 68.7 rubles per 1 dollar is for 2018," he added.