7 Apr 2022 18:24

Redistribution of funds within Russian budget for anti-crisis measures in 2022 estimated at 500 bln rubles - Siluanov

MOSCOW. April 7 (Interfax) - The Russian Finance Ministry estimates the volume of redistribution of funds within the Russian budget in 2022 for anti-crisis plan measures at 500 billion rubles, Finance Minister Anton Siluanov told reporters.

"Amid restrictions on imports, a number of budget expenditures cannot be implemented in the parameters that were previously envisaged, accordingly, ministries and agencies reallocate these funds on instructions from the Russian government to anti-crisis plan measures. The anti-crisis plan currently stands at 1.2 trillion rubles. The resources to be reallocated are estimated by the Finance Ministry at about half a trillion rubles," the minister said.

These are funds which "will go towards the budget maneuver in terms of prioritizing spending, directing them to the government's response to the emerging situation," Siluanov said.

The task now is "to determine the amount of additional spending in the current year, to determine the amount of planned revenue sources, both oil and gas ones and non-oil and gas revenues, he said. "The task is, on the one hand, to ensure that the budget supports the necessary sectors of the economy and people, so that there is enough money this year. To ensure macroeconomic stability in the current and subsequent years, as the obligations of the current year create a basis for expenditures in the following years, we must also take this into account," Siluanov said.