The Russian government has gone to appeals “to include the printing press”, “cut social spending” or “raise taxes”, and all of our social obligations in the new three-year budget is guaranteed. About it as transfers “Interfax”, said Russian Prime Minister Dmitry Medvedev at a government meeting on Thursday to discuss the draft three-year budget. Amendments to the budget of the current year, the Cabinet approved a week ago.

According to the head of the government, challenging period the company has made “good” saved the sustainability of public finances, “while wanting to score political points on the difficulties in the pre-election period were many.”

“The budget has been prepared, it is, of course, difficult, reflects the current economic situation. In some positions it is very hard and, of course, can cause different emotions. However, I’d like to set all of his will continue to work on the most rational and pragmatic approach, as the new budget is adequate to those opportunities that we have today,” – said Medvedev.

We will remind, the basic variant of the forecast of Ministry of economic development proposed to base budget assumes oil prices of $ 40 per barrel. According to calculations, the growth of Russia’s GDP in 2017 will amount to 0.2% in 2018 and 0.9% in 2019 and 1.2%.

While inflation is reviewed on an annual level of 4%. The dollar exchange rate next year should be to 67.5 rubles, a year – 68.7 ruble, two years from 71.1 per ruble.

Earlier the Ministry called more realistic is not the baseline scenario and the scenario “baseline+” with oil prices in 48, 52 and 55 dollars per barrel in the years 2017-2019. This scenario is laid inflation of 4.5%, 4.3% and 4.1% and the dollar – ruble at 63.3, 62.1 61.3 ruble and ruble in the years 2017-2019.

The third variant of the prediction – target – assumes the same price for oil as “basic+”. But inflation in 2018 and 2019 will be even lower 4 per cent (3.9 per cent), and laid the dollar as the minimum of all the options.

In the target scenario, the expected rapid growth of Russia’s GDP in the coming three years, the accelerated growth of industry and investment in fixed capital.
The budget for the next three years planned with a deficit of $ 2,744 trillion, or 3.15 per cent of GDP, 1,989 trillion rubles, or 2.15% of GDP, and 1,139 trillion rubles, or 1.15% of GDP, respectively.

Income in 2017 is planned in the amount of 13 trillion 436 billion 613 million rubles, expenses – 16 trillion 181 billion 264 million rubles. This year the budget is based on projected GDP 86 trillion 806,0 billion and inflation is not above 4.0%.

GDP for the year 2018 is projected to be $ 92 trillion 296,0 billion, in 2019 – 98 trillion 860,0 billion. Inflation in these years should not exceed 4.0 per cent.

Budget revenues in 2018 is expected to be 13 trillion 988 billion 757 million rubles for the year 2019 – 14 trillion 824 billion 918 million rubles. Budget expenditures are planned in 2018 at a rate of 15 trillion 059 billion 978 million rubles, 2019 – 15 trillion 964 billion 267 million.

Medvedev: the implementation of social obligations to the “difficult” and sometimes “hard” three-year budget guaranteed 13.10.2016

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