02:31 GMT +317 June 2019
Listen Live
    Russian Ministry of Finance has reviewed the main characteristics of the federal budget for the 2015-2017, increasing the budget deficit level from 0.4 to 0.5 percent of the GDP.

    Russia to Cut Budget Costs by 10% in 2015, Defense Expenses Unchanged

    © Sputnik / Iliya Pitalev
    Business
    Get short URL
    0 35

    The Russian government plans to cut expenses by 10 percent in most categories of the 2015 budget, according to the anti-crisis plan released on Wednesday.

    MOSCOW, January 28 (Sputnik) –  The Russian government on Wednesday passed on to the country’s parliament a legislative project to decrease most categories of budget expenses in 2015 by 10 percent, according to a statement published on the Cabinet of Ministers’ website.

    “The government of the Russian Federation has introduced to the State Duma of the Federal Council of the Russian Federation a legislative project that foresees a decrease in most categories of federal budget expenses in 2015 by 10 percent, first and foremost, by excluding ineffective expenses,” the anti-crisis plan reads.

    The anti-crisis plan also envisages cutting budget expenses by 5 percent per year over the next three years in order to reach a balanced budget by 2017, according to the statement.

    Russian expenses on defense will not be affected in the country’s anti-crisis plan.

    The anti-crisis plan is to ensure economic development and social stability during the unfavorable conditions in the national economy.

    “In 2015 and 2016, measures will be taken to activate structural changes in the Russian economy, to stabilize the work of system-based organizations in key areas and reach a balanced labor market, to lower inflation and ease the consequences of price growth on socially important goods and services for low-income families, and to reach a positive rate of growth and macroeconomic stability in the mid-term timeframe,” the statement reads.

    Related:

    Russia's Anti-Crisis Plan to Be Based on Current Oil Prices
    Russia Requires $21 Bln for Anti-Crisis Measures
    Medvedev Says Anti-Crisis Legislation is Russian Government's Top Priority
    Tags:
    anti-crisis plan, Cabinet of Ministers, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik