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Friday, October 21, 2016

Siluanov: Russia reserves will last for three years

Russia’s Finance Minister Anton Siluanov said on Thursday that the budget for 2017-2019 will be built on the basis of the need to reduce the imbalance that arose after the fall of oil and gas revenues.

Tax increases for this period, the Ministry of Finance does not offer. Also saved the plans to reduce the budget deficit by 1% of GDP per year. While the proposals for the budget rule and that was considered a windfall revenues from oil prices exceeding 40 dollars per barrel.

The budget deficit will be covered by reserves. According to Siluanov, with careful spending of reserves will last for three years.


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