Treasury for three years: 10 facts about the draft budget for 2017-2019...

Treasury for three years: 10 facts about the draft budget for 2017-2019 years


Prime Minister of Russia Dmitry Medvedev (right) at the Gorki residence at the government meeting on the Federal budget and budgets of state extra-budgetary funds

Photo: Alexander Astafyev/TASS

The fall of the economy

Authorities have found a way to save on pensioners another 55 billion rubles.

The budget will have to do without the profits of the Central Bank for the first time in 20 years
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On 12 October the Ministry of Finance published a draft budget 2017-2019 years, which should rectify the accumulated imbalance in the budget system. It is planned that the draft will be submitted for discussion to the state Duma on October 28. 10 facts about the new budget — a review of RBC

  • By 2019, the Ministry of Finance expects to increase budget revenues to 14.8 trillion rubles, Total expenditures for 2017 proposed $ 16,18 trillion, over the next two years — slightly less than 16 trillion. read More
  • The budget deficit in 2017 will amount to 2.74 trillion rubles, or 3.16% of GDP to the bill. In 2018, the budget deficit, according to the project of the Ministry of Finance will decrease to 2.2% of GDP in 2019 — up to 1.2% of GDP. Read more
  • Most in 2017, it is planned to spend on social policies — 5,08 trillion On defence in the open part of the budget of about 950 billion rubles, and with the secret expenses of 2.84 trillion rubles, which is 27% less than in 2016. Read more

  • The Ministry of labor for three years postpones the entry of the law on the accelerated growth of pensions to rural residents who have worked in agriculture for 30 years and more, which implies an annual increase of 25% fixed portion of old age benefits and disability. This will save the budget of 55 billion rubles. read More
  • The Ministry of health has identified a preliminary budget of five large-scale projects in the health sector to be implemented from 2019 to 2025, told RBC a source close to the Ministry of health. The Agency wants to spend more than 182 billion rubles for the purchase of vaccines against chickenpox and rotavirus, medical, aviation, anti-counterfeit and training. Read more
  • The budget of the compulsory health insurance Fund (HIF) has not yet been formed, write “Vedomosti”. In years 2017-2019 Fund lacks 0,5 trillion roubles on the salaries of doctors. In particular, in 2018 196,6 billion in 2019 — 219,5 billion. read More
  • By 2019, we will cut funding for public media at 6-20%. So, financing FGUP “VGTRK” will reduce by 9% (to 20.5 billion rubles) compared with the year 2016, 8% will be reduced funding for Russia Today to 16.06 billion. read More

  • The Finance Ministry expects losses from Bank of Russia at the end of 2017 and 2018, it follows from the explanatory note to the draft Federal budget for 2017-2019 (have RBC). The Bank of Russia may in 2017 for the first time in nearly 20 years not to transfer profit to the Federal budget. By the end of 2015, the Central Bank transfered 90% of its profits — 101,1 billion. read More
  • Closed part of the budget in 2017 will amount to about 18% (roughly the same proportion will fall on a closed costs to 2018-2019). This is less than in 2016, following which the closing level of spending will exceed 22% (post-Soviet high). Open part — for 13, 31 trillion. read More
  • The Ministry of Finance laid down in the Federal budget by 2017 and 600 million rubles for payments to plaintiffs of the ECHR. The most important decision of the ECtHR on the complaint on Russia for payments to former shareholders of Yukos compensation in the amount of €1.87 billion in 2014 for the actions of the Russian tax authorities. Read more