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Monday, October 24, 2016

The Finance Ministry told what income counts in the three-year budget

The Ministry of Finance of Russia held a presentation on the budget for 2017-2019. As is clear from the document privatization revenues this year will amount to 382 billion. In the next three years they will bring in 6 billion roubles annually.

Due to the payments to state-owned companies dividendo in the amount of 50% of the profits, the budget will receive 269, 274 and 288 billion, respectively.

The extension increased the severance tax on gas in years 2017-2019 will budget for 170 billion per year. And the increase in excise duties on petroleum products will bring respectively in the years 50, 75 and 90 billion rubles.

The report also says that the Finance Ministry makes a budget for the next three years, based on the zero balance of the Reserve Fund in all three years.

It is assumed that spending in the current year will amount to 16.4 trillion rubles, revenues — of 13.37 trillion rubles, the deficit will amount to 3.7% of GDP.

While the three-year budget costs in each of the years is frozen at the level 15,78 trillion rubles, and revenues are assumed to be in 2017 — of 13.03 trillion rubles, 2018 — 13,77 trillion in 2019 – is 14.64 trillion rubles. Therefore, the budget will remain with deficit, but in 2019, the budget deficit will fall to 1.2% of GDP.


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