Moscow. December 15. The President of Russia Vladimir Putin in Monday signed a law on the Federal budget for 2016. The document was published on the official portal of legal information.
The volume of budget revenues-2016 planned $ 13,738 trillion (17.5 percent of GDP), expenditure – 16,099 trillion rubles (20.5% of GDP).
The budget deficit will reach 2.36 trillion, or 3% of GDP. Earlier it was reported that funds for financial support for VEB will be taken into account beyond this limit.
The budget is based on the inflation rate not exceeding 6.4 per cent (December 2016 to December 2015). The GDP is expected to be $ 78 trillion 673 billion.
The normative size of the Reserve Fund is planned in the amount of 5 trillion 507 billion.
The contingency Fund on 1 January 2016 will amount to 3.4 trillion roubles (4.3 percent of GDP), and by the end of the year it will be reduced to 1.05 trillion roubles (1.3% of GDP). The national welfare Fund at the beginning of the year will amount to 4.9 trillion rubles, and decreased by the end of the year to 4.7 trillion rubles.
The budget includes a provision for the establishment of the Fund in the amount of 342,2 billion (due to the freeze of pension savings in 2016). These funds will be disbursed in accordance with the instructions of the President and the government of the Russian Federation.
In the law on the Federal budget also includes a return mechanism in the budget of unused balances of budget subsidies directed to the state Corporation. In addition, the document contains a provision on Treasury support government contracts territorial bodies of the Federal Treasury.
The upper limit domestic borrowing to the level of 300 billion, external borrowings of $3 billion.
The upper limit of the internal debt on January 1, 2017 it is proposed to install in the amount of 8 trillion 818 billion, external debt – $55,1 billion and 50.1 billion euros.
According to the law, source of Fund unrelated debt of the Russian Federation can be international and Russian capital markets. Earlier it was a mandatory international markets. As explained by the head of the debt Department of the Ministry of Finance of the Russian Federation Konstantin vyshkovsky, thus creating opportunities for the implementation of Federal borrowing in foreign currency on the Russian exchange, in particular, foreign investors could buy bonds of the Russian Federation denominated in foreign currency. The Deputy Minister of Finance Maxim Oreshkin clarified that we are talking about the possibility of placing on the domestic market of OFZ bonds in yuan. It is planned to place such bonds in the amount of 6 billion yuan.
The amount of state guarantees for project financing is set at 60 billion rubles, the investment guarantees provided in the amount of RR 175.3 billion.
The law also provides for the reduction on a year term loans, which in 2016 may be granted state guarantees, now get the state guarantee can only be made on loans, the maturity date of which occurs after 1 January 2018 (previously it was assumed after January 1, 2019).