The government of the Russian Federation following the meeting on Thursday approved amendments to the law on budget for 2016. As reported the Agency “Prime”, told journalists the Minister of natural resources Sergey Donskoy.

The Ministry of Finance to impose these amendments with a deficit of 3,034 trillion rubles, or 3,66% of GDP.

Prime Minister Dmitry Medvedev, opening the meeting, said that the draft amendment involves the reallocation inside a budget of about 1 trillion rubles.

The current budget was planned based on forecast average oil prices of 50 dollars per barrel, but last year the quotes went down sharply. In the summer the Ministry of Finance has decided to recalculate the budget based on the price of $ 40. Thus, for the first nine months, the average price of Russian Urals oil stood at 39.9 dollars per barrel.

Of the draft amendments, previously published on the website of the government, it followsthat Mitin confirmed the worsening Outlook for the budget deficit in 2016 to 3.66% of GDP. The planned deficit has grown by more than 670 billion roubles, from 2.3 trillion to 3 trillion.

The amendments also increase the valuation of GDP in 2016 to 82,815 trillion rubles 78,673 trillion.

Inflation reduced to 5.8% from 6.4%.
The Ministry of Finance has also put in amendments to the 2016 budget increased spending by more than 300 billion rubles to 16.4 trillion, and the decline in revenue of 370 billion rubles to the 13.3 trillion rubles.

In the draft amendments incorporated and an increase in domestic borrowing from 300 billion to 500 billion (domestic loans as a source of repayment of the budget deficit).

Thus in the Ministry of Finance prepared the proposed amendments to increase the share of classified expenditures in the General budget expenditures to post-Soviet high.

Closed part of the budget, according to estimates by RBC, will be 3.66 trillion rubles, or 4.4% of GDP, only 22.3% of the total costs, which amount to 16.4 trillion. The Agency reminds that in 2015, the share of classified spending was 20%, and this year she was supposed to fall to 18%.

The draft budget for 2017-2019, the Cabinet plans to consider on October 13 and the Committee on the budget, the Prime Minister will be tomorrow, October 7.

The government has approved amendments to the budget of the current year 06.10.2016

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