MinFin proposals: 2016 budget deficit no more than 3% of GDP, keep reserves intact - Siluanov
NOVO-OGARYOVO. Sept 22 (Interfax) - The Russian Finance Ministry at Tuesday's meeting with President Vladimir Putin presented its own proposals, which take into consideration the president's instructions that the budget deficit must not be more than 3% of GDP next year and that the country's reserves should be kept intact in the medium and long term, Finance Minister Anton Siluanov told reporters following the meeting.
He said final decisions had not been reached on the indexation of pensions or on the mineral extraction tax, and that these needed further consideration.
"At the meeting we discussed measures in the area of expenditures and their optimization, proposals by the Audit Chamber on improving how to work with debt receivable, with residual budget funds that have built on the accounts of budget recipients. Proposals also concerned the optimization of state programs," Siluanov said.
"Instructions were given to work some more on the budget. In the next few days, the government will hold a meeting on those proposals aired today at the meeting with the president. Following this discussion we will present our own proposals to the president where balancing the budget for next year and the following period is concerned," Siluanov said.