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State Duma adopts Russia’s budget for 2017-2019

December 09, 2016, 12:37 UTC+3
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MOSCOW, December 9. /TASS/. The Russian State Duma approved in the third, final, reading the law on the budget of the Russian Federation for 2017 and planning period of 2018-2019. 

The law on the federal budget for the three-year period includes in 2017 revenues of 13.487 trillion rubles ($213.57 bln), expenses - 16.24 trillion rubles ($257.17 bln). Revenues for 2018 and 2019 are projected at 14.028 trillion rubles ($222.14 bln) and 14.844 trillion rubles ($235.06 bln) respectively, while costs will amount to 16.039 trillion rubles ($253.98 bln) in 2018 and 15.986 trillion rubles ($253.2 bln) in 2019. The federal budget deficit in 2017 will amount to 2.753 trillion rubles ($43.6 bln) and will be gradually reduced to 2.011 trillion rubles ($31.82 bln) in 2018 and to 1.142 trillion rubles ($18.09 bln) in 2019.

"The main result of our work is the fact that all the social obligations of the state to the people will be fulfilled," summed up the work on the budget Head of the State Duma Committee on Budget and Taxes Andrey Makarov. He also noted that the execution of presidential decrees in the budget is fully secured financially with more than 2 trillion rubles ($31.68 bln).

Russian Finance Minister Anton Siluanov noted that the Finance Ministry retains its plans to use 1.1 trillion rubles ($17.45 bln) from the Reserve Fund in December 2016.

"We will spend the same volume as we had originally planned - 2.1 trillion rubles ($33.32 bln) from the Reserve Fund. We have already spent more than a trillion. The main spending volume fall at the last two weeks of the year. We follow the plan, which we have adopted in reviewing the budget for 2016," he said.

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