MinFin sets task of cutting non-oil, gas budget deficit to 5% of GDP
MOSCOW. Oct 8 (Interfax) - The Russian Finance Ministry is aiming to cut the country's non-oil and gas federal budget deficit to 5% of GDP, Finance Minister Anton Siluanov said during hearings on the draft budget for 2014-2016 at the Federation Council on Tuesday.
"Our job is a five-percent non-oil and gas deficit level. But achieving this is not simple, it's difficult. We will be acting constantly," Siluanov said.
It says in an explanatory message accompanying the draft federal budget for 2014-2016 submitted to the State Duma last month that in 2013 the non-oil and gas federal budget deficit will be 10.3% of GDP, in 2014 - 9.4%, in 2015 - 9.6%, and in 2016 - 8.4%.
The overall federal budget deficit will in 2014 be 389.6 billion rubles, or 0.5% of GDP, in 2015 - 796.6 billion rubles, or 1%, and in 2016 - 486.5 billion rubles, or 0.6%.
According to the budget draft, 2014 federal budget revenues will be 13.57 trillion rubles, or 18.5% of GDP, in 2015 - 14.56 trillion rubles, or 18.3%, and in 2016 - 15.9 trillion rubles, or 18.3% also.
Spending next year is planned at 13.96 trillion rubles, or 19% of GDP, in 2015 - 15.36 trillion rubles, or 19.3%, and in 2016 - 16.39 trillion rubles, or 18.9%.