Siluanov: the budget is not yet adapted to new oil prices

Siluanov: the budget is not yet adapted to new oil prices


One of the tasks facing the government is to adapt the budget to the new economic situation, said the head of the Ministry of Finance of the Russian Federation Anton Siluanov.

MOSCOW, 13 Jan. Russia’s budget have not yet adapted to low oil price, and therefore the authorities will take a number of decisions on changes of fiscal policy, said the head of the Ministry of Finance of the Russian Federation Anton Siluanov.

“I want to say that, if in the current environment of the enterprise and the private sector mainly adapt to new conditions, the budget, public companies, the public sector still needs the conditions to adapt. And that challenge right now, we should, because if this does not happen, we can have negative implications from the point of view of the economic situation”, — said Siluanov, speaking at the Gaidar forum.

He pointed out that one of the objectives is to adapt the budget to the new economic situation. “We still have a number of decisions on changes of fiscal policy,” the Minister added.