MOSCOW, October 3. /TASS/. Russia's Finance Ministry forecasts growth of budget deficit by more than 670 bln rubles ($10.7 bln) to 3 trillion rubles ($48.02 bln) in the 2016 budget, according to the amendments to the draft budget for 2016 prepared by the Finance Ministry.
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The amendments included to decrease of budget revenues in 2016 by 370 bln rubles ($5.9 bln) to 13.3 trillion rubles ($212.87 bln) and growth of spending by more than 300 bln rubles ($4.8 bln) to 16.4 trillion rubles ($262.5 bln).
The draft amendments also included increase in domestic borrowing from 300 bln rubles ($4.8 bln) to 500 bln rubles ($8.02 bln).
According to Finance Minister Anton Siluanov, amendments to the 2016 budget will be taken into account, reduction of limits by 10%, as well as a series of amendments regarding proposals of the ministries and agencies to shift resources from one position to another ", - said Russian Finance Minister Anton Siluanov.
Siluanov told reporters at the Sochi International Investment Forum 2016, that Russia's budget deficit in 2016 could reach 3.5-3.7% of GDP, depending on the structure of the deal with Bashneft. "The deficit in 2016 will be 3.5-3.7% of GDP, depending on the structure of the deal with Bashneft," he said.
According to him, if the deal will be structured through Rosneft and Rosneftegaz - it will reduce the budget deficit. "If it is structured as a regular transaction not associated with Rosneft, it will be a source for financing the deficit," he added.
First Deputy Prime Minister Igor Shuvalov said earlier that Russian oil producer Bashneft may be privatized by 2016 year-end but no final decision has been made so far.