The government submitted a draft state treasury to the State Duma

The one-year budget for 2016 was submitted to the State Duma today. The main financial document was drawn up with a three percent deficit. Along with the budget, a large package of related documents was introduced, including a controversial bill on indexing pensions in 2016 by only 4%.

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The government today submitted to the State Duma a bill on the federal budget for 2016. Income and expenses were increased by 161 billion rubles. compared to the option approved at the government meeting on October 8. Thus, treasury receipts will amount to 13.7 trillion rubles, and planned expenses will amount to 16.1 trillion rubles, the budget deficit remains at 3% of GDP. The increase in income, First Deputy Prime Minister Igor Shuvalov explained yesterday, is in particular due to the decision to maintain the oil export duty at 42% throughout 2016, rather than nine months.

Jump from the Tratosphere

In 2016, instead of a new anti-crisis plan, it is planned to create a fund to support economic sectors - the draft budget takes into account allocations in the amount of 65 billion rubles. According to Anton Siluanov, the volume of the fund can reach 150 billion rubles. According to the bill adopted today in the second and final third reading, the balance of budget funds as of January 1, 2016 is up to 150 billion rubles. will be used to support economic sectors, citizens, regional budgets and provide humanitarian assistance to foreign citizens.

Along with the budget, a whole package of bills was submitted to the State Duma - in particular, the forecast for the socio-economic development of Russia for 2016–2018, the main directions of budgetary and tax policy. A draft was also introduced to index pensions from February 1, 2016, not by 12% (according to actual inflation), but only by 4%. The government promises that the possibility of additional indexation of pensions will be considered based on the results of the first half of the year. In addition, next year the pensions of working pensioners will not be indexed.

Evgenia Kryuchkova

Budget construction loses elasticity

On October 19, Finance Minister Anton Siluanov announced: additional budget revenues for 2016, even if they are fixed, will not be distributed among new recipients, but, as in 2015, will be used to cover the treasury deficit. At best, this could make it easier to finance expenses in 2017-2018. The Ministry of Finance also confirmed its intention to withdraw from recipients of budget investments, primarily state-owned companies, at least interest from the placement of funds on deposits.Read more

Budget 2016 reached deputies