07:44 GMT19 April 2021
Listen Live
    Get short URL
    0 83

    The budget was adopted only for the next year instead of the traditional three-year period due to high volatility in the financial and commodity markets.

    MOSCOW (Sputnik) — Russian President Vladimir Putin signed a decree on the federal budget for next year, according to an official statement published Tuesday on the governmental web portal for legal documents.

    The state is expected to take in some $195 billion in revenue in 2016, while the budget deficit will stand at 3 percent of GDP, or over $33 billion.

    The document projected inflation in Russia not to exceed 6.4 percent next year and the average price of the Russian Urals oil blend to be about $50 per barrel.

    The limit on foreign debt by January 1, 2017, stands at $55.1 billion, according to the decree.

    Under the 2016 budget, pensions will undergo mandatory indexation to increase by 4 percent and may be raised further to reflect the current economic and social environment.


    ICBC Regional Head Comments on Russia-China Economic Cooperation
    Lavrov Urges to Resume Work of Russia-Italy Economic Cooperation Council
    As Russia Pounds Daesh, West's Sanctions on Moscow Are 'Economic Terrorism'
    Ratings of 12 Major Companies Reflects Russian Economic Recovery - Moody’s
    budget deficit, budget, Vladimir Putin, Russia
    Community standardsDiscussion