Siluanov: reduction of budget expenditures by 10% – the maximum possible decision

Siluanov: reduction of budget expenditures by 10% – the maximum possible decision


MOSCOW, January 17. Without changing the budget structure, you can reduce the expenses of ministries is only 10%. Such opinion on air of NTV was stated by the Minister of Finance of the Russian Federation Anton Siluanov.

“A reduction of 20% already leads to a dramatic shift in the structure of the budget. 10% uzimanje spending is today possible decision,” he said.

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The Minister stressed that all social obligations of the government are fulfilled. “The second priority is to support key sectors of the economy that will propel our GDP, our economy, already now a new economy based not on raw materials”, – said Siluanov.

Earlier, the Minister said that the reduction of budget expenditures by 10% with the exception of the so-called protected articles will give you the opportunity to save some 512 billion rubles. Siluanov explained that the ministries and agencies receiving appropriations in 2016, will determine the priorities of the appropriation, and will make decisions about choosing a major most effective spending and trim inefficient spending. Thus, Siluanov said, these actions cannot be called a sequester, because “the sequester is happening when cutting the budget: you have to terminate the contracts, to violate contractual obligations; we brought the same limits, now the Agency, not signing contracts, choose the most important costs”

Rebound in the prices of raw materials are not waiting

The Finance Ministry does not expect the return of former raw material prices as the current situation related to the structural change in the global commodity market, said the Minister of Finance.

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“The situation with prices of raw materials – most likely, it is a structural change, and there will be no rebound, as happened in 2008-2009,” said he.

Earlier, the head of the Ministry of economic development Alexei Ulyukayev, speaking at the Gaidar forum in 2016, expressed the view that the period of low oil prices can last for decades.

In 2015, the prices for oil of marks WTI and Brent for the first time since 2008 fell below $40 a barrel.

The cost of futures for oil of mark Brent with delivery in March 2016 on the ICE stock exchange in London January 15, dropped to $28,81.

Budget 2016 based on the estimation of prices for the Urals oil at $50 a barrel. Budget revenues are assumed at $ 13,738 trillion (17.5 percent of GDP), expenses – up to 16,099 trillion rubles (20.5% of GDP). The budget deficit will reach 2.36 trillion, or 3% of GDP.

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From high to collapse: the dynamics of oil prices since 2000