The state Duma has increased the expenditure budget 2015 to 202 billion rubles

MOSCOW, October 23. The state Duma approved in the first reading the bill on amendments to the law “On the Federal budget for 2015 and planning period 2016 and 2017”, according to which the expenditures of the Federal budget for the current year increased by RUR 202.3 billion.

According to the Minister of Finance Anton Siluanov, the draft law is prepared taking into account expected results and evaluation of budget execution in the current year.

“The main task in the conditions of uncertainty of external factors and in conditions of instability of domestic economic situation was to prevent the unbalance of finances and creation of conditions for the beginning of growth of the economy,” he said, presenting the bill to deputies.

The Minister noted that the measures ensured the achievement of a new equilibrium in the balance of payments, reducing inflation and reduced capital outflow.

“In the third quarter we see capital inflows to Russia in the amount of $5.3 billion,” – said the head of Department.

Siluanov also noted that the bill provides for the growth of the Federal budget for 2015 711,6 billion. However, compared to the initial plan, the total revenues are reduced by more than 1.8 trillion rubles. The budget deficit is expected to reach 2.2 trillion rubles, or 3 percent of GDP.

Increased costs in the amount of RUR 202.3 billion roubles will be used for the solution of several tasks. Among them, the transfers to the Pension Fund would be $ 124,3 billion rubles, the contribution to the capital of the Asian Bank of infrastructure investments – nearly 18 billion and 12.6 billion roubles: contribution to the authorized capital of New development Bank.

The regions will consist of two parts: 10 billion rubles, as the prize will be given to those subjects of the Russian Federation which achieved best results of increasing the tax potential, and 35 billion rubles will be distributed among those regions who are not enough funds for performance of social obligations.

“The reserve Fund at the end of the year will be 3.4 trillion. And most of it will be used for financing the budget deficit in 2016. The volume of Fund of national welfare will be on the end of the year, 4.9 billion rubles will remain unchanged,” – said Siluanov.

He stressed that efficient allocation of resources the current year’s budget is the key to the correct determination of the priorities for the budget in 2016.

The second reading of the bill on amendments to the law “On the Federal budget for 2015 and planning period 2016 and 2017” scheduled for November 11.