The Finance Ministry has proposed to bring to managers of 5% of the budget


Moscow. December 11. The Ministry of Finance proposes in 2016 not to reach the spending 5% of the planned limits, reported “Vedomosti” with reference to sources.

According to the publication, the Ministry of Finance has calculated the fiscal risks arising both while maintaining oil prices at $40 per barrel, and at the budgeted $50.

In addition to sequestration spending, the Finance Ministry proposes to increase revenues from privatization up to 1 trillion rubles, to freeze new objects of capital investments, the construction of which is scheduled for next year, and 557 billion anti-crisis reserve to be used only in exceptional cases.

The proposal nedovedeniya 5% budgetary limits while understanding is not found, says one of the interlocutors of the newspaper, and new construction projects are likely to freeze.

The Finance Ministry estimates, with an average annual oil price of $50 per barrel the budget nedoberet 750 billion rubles of income, the deficit would rise to 4.1% of GDP (3.2 trillion rubles) in the limit of 3%, in the Reserve Fund by the end of 2016 will remain little more than 600 billion rubles.

This is due to the change of some parameters of the macro forecast in the first place – a stronger ruble, as well as by reduced oil and gas exports and lower Central Bank profits transferred to the budget. While the budget will have to increase transfers to the Pension Fund amounting to 158 billion rubles due to the lack of insurance premiums.

In the case of reduction of oil prices to $40 per barrel average for the year budget nedoberet 1.6 trillion rubles of revenue, is 2% of GDP, said earlier the Minister of Finance Anton Siluanov. In this case, the deficit may exceed 5% of GDP, and in the Reserve Fund by the end of 2016 will be less than 200 billion.