Because of the fall in oil prices, the Russian government has decided to optimize the budget for 2016. The Finance Ministry proposes to adjust the budget based on the average annual price of Urals oil in 40 dollars for barrel.
HILL, 18 Jan. The Cabinet of Ministers of the Russian Federation received from the Ministry of Finance a number of budget proposals, which bears the principal character, including to reduce costs, accelerate privatization, and improve the efficiency of state-owned companies, must be adopted promptly for these issues in a concerted decision, said the head of the government Dmitry Medvedev.
“Certain ideas about increasing budget revenues and reducing costs, we have already received from the Ministry of Finance at that meeting. Some of them were discussed, they, of course, different. They affect a wide range of complex issues. Some fork are technical, but most of it of a fundamental nature. Including the issues of accelerating privatisation, measures to improve the efficiency of companies, which are controlled by the state, work with accounts receivable”, — Medvedev said at a meeting on the budget in 2016.
The Prime Minister stressed that the government should as soon as possible to work out agreed solutions.
The government of the Russian Federation in connection with the fall in oil prices has taken a decision on optimization of the budget for 2016, the Ministry had until mid January to prepare and submit to the Finance Ministry its proposals on the reduction of costs on unprotected articles by 10%. Final proposals for revising the budget planned to the end of the first quarter.
The Finance Ministry proposes to adjust the budget in 2016 based on the average annual price of Urals oil in 40 dollars for barrel. Now in the document based on the price of $ 50.