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Federal Budget 2015
November 24, 2014 16:22


The State Duma adopted the law concerning the federal budget for 2015 and planning period of the years 2016 and 2017. This was reported by TASS. The document takes into account the annexation of the Crimea, the potential losses caused by the sanctions, as well as the tax maneuver in the oil industry.

It is expected that Russia’s GDP will amount to 77.5 trillion roubles, inflation will reach 5.5 percent in 2015, the indicators will amount to 90.1 trillion and 4 percent, respectively, in 2016. The agency reports that federal budget revenues in 2015 will amount to 15.8 trillion roubles and its expenses - 16.3 trillion roubles. 16.6 trillion roubles will add to the budget in 2016, the expenditures will rise to 17.1 trillion. 

The budget deficit will stay at 0.6 percent of GDP during three years. The main sources of its funding will be government borrowings and revenues from privatization. Almost 140 billion roubles were allocated for the implementation of priority national projects, 12.3 trillion for state programs, 1.1 trillion for federal target programs, 2.3 trillion for modernization of the economy.

“All existing social commitments of the state become financially-secured after the budget is adopted, and they are secured not only for 2015, but for the whole three-year period” - the chairman of the Budget Committee of the State Duma Andrei Makarov said, according to the results of the work on the main financial document of the country. The Ministry of Economic Development presented the report “Modern Problems and Challenges of Economic Policy in Russia” on November 20. 

The agency predicts that GDP will grow by 1.2 percent next year, oil will cost $ 100 per barrel, capital outflow will make up 50 billion dollars. In addition, the growth of real wages of the population is planned at the level of 0.5 percent. The main risks for the Russian economy are called geopolitical factors and lowering of oil prices.

Author: Anna Dorozhkina

Tags: State Duma federal budget    

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