state budget of Russia

Russia on cusp of exiting junk as SP outlook goes positive

Russia on cusp of exiting junk as S&P outlook goes positive

Relatively low oil prices, structural impediments, and sanctions will continue to impinge upon the rebound in GDP

Russian finance minister on scrapping oil export duty

Russian finance minister on scrapping oil export duty

Russian finance minister Anton Siluanov proposed scrapping the country's oil export duty from 2022-2025 as the government looks to optimise the tax system for the oil and gas industry. Speaking at an economic …

 Russian Finance Ministry to raise VAT, cutting social security tax

Russian Finance Ministry to raise VAT, cutting social security tax

Russia is considering raising value added tax but lowering mandatory social security payments, the country's Finance Minister Anton Siluanov said today, speaking at an economic conference in Moscow. Siluanov said …

Medvedev: Russian regions’ budget deficit to halve by 2019

Medvedev: Russian regions’ budget deficit to halve by 2019

Russian regions’ budget deficit will go down almost twofold by 2019 compared with 2016, Prime Minister Dmitry Medvedev said. "As a result the situation around regional budgets is going to improve on the …

Russian President approves state budget for 2017

Russian President approves state budget for 2017

Russian President Vladimir Putin signed the law on the Russia’s federal budget for 2017 and the planned period of 2018-2019. The document was posted on the official website of legal information. The budget law for …

Sechin: proceeds from Rosneft privatization transferred to budget

Sechin: proceeds from Rosneft privatization transferred to budget

Rosneft CEO Igor Sechin has reported to the Russian President Vladimir Putin that all the proceeds from the privatization of 19.5% of the shares of Russia's largest oil company Rosneft have been …

Oreshkin plans to revive Russian economy with 500 billion rubles

Oreshkin plans to revive Russian economy with 500 billion rubles

The new Russian Minister of Economic Development Maksim Oreshkin sent to the government the first policy document - a draft "Action Plan aimed at increasing the Russian economy growth in 2017", the Russian media with …

State Duma finally approves Russian budget

State Duma finally approves Russian budget

The Russian State Duma approved the draft budget for 2017 and the planned period of 2018-2019 in the third and final reading. 315 members of parliament voted for approval of the budget, 99 voted against it, TASS reports. …

State Duma approves draft Russian budget for 2017-2019 in second reading

State Duma approves draft Russian budget for 2017-2019 in second reading

The Russian State Duma approved the draft budget for 2017 and the planned period of 2018-2019 in the second reading, TASS reports. 325 members of parliament voted for approval of the budget, 57 voted against it, and 1 lawmaker …

Russia’s state budget adopted in first reading

Russia’s state budget adopted in first reading

The State Duma has approved Russia’s budget for 2017 and the planned period of 2018-2019 in the first reading.  334 lawmakers voted for and 100 against the draft, TASS reports. Russian Finance Minister …

Draft budget submitted to Russia#039s State Duma

Draft budget submitted to Russia's State Duma

Russian Finance Minister Anton Siluanov has presented a draft budget for 2017 and the planned period of 2018-2019 at the plenary session of the State Duma. According to the draft, budget revenues will be 13.487 trillion …

Matviyenko: Russia needs budget of hope and success

Matviyenko: Russia needs budget of hope and success

Speaker of Russia’s Federation Council, Valentina Matviyenko, took part in the parliamentary hearings "On the parameters of the Draft Federal Budget for 2017 and the 2018-2019 Planning Period". "We …

Russian State Duma amendments budget

Russian State Duma amendments budget

Budget amendments for 2016 have passed their second reading in Russia’s State Duma.  The draft amendments imply an increase of Russia’s 2016 federal budget deficit to 3 trillion rubles ($47.2 bln), or 3.7% of GDP. …

Russia#039s Cabinet to fill budget at expense of employers

Russia's Cabinet to fill budget at expense of employers

The insurance contribution rate will be increased to 30.8% in Russia from 2019. The corresponding decision was taken by the Russian government, the Economic Development Minister, Aleksey Ulyukayev, said. "I …

 Russia#039s budget to remain social

Russia's budget to remain social

Prime Minister of the Russian Federation Dmitry Medvedev said at the meeting with President Vladimir Putin that the government deliberately based its budget for 2017-2019 on the oil price of $40 per …

Russian government completes budgetary process

Russian government completes budgetary process

Russian Prime Minister Dmitry Medvedev reported Russian President Vladimir Putin about the completion of the budgetary process in the government, the president's press secretary Dmitry …

 Russian Finance Ministry: non-oil and gas budget revenues to increase

Russian Finance Ministry: non-oil and gas budget revenues to increase

Russia’s Finance Ministry expects non-oil and gas revenues to rise by almost 900 bln rubles ($14.2 bln) in 2016 owing to the purchase of Rosneft stake, the Russian Finance Minister Anton Siluanov said. "We …

Russian budget deficit for 2016 increased to 3 trillion rubles

Russian budget deficit for 2016 increased to 3 trillion rubles

The Russian government has submitted draft amendments for the 2016 federal budget to the State Duma.  According to the government website, the draft law proposes to adjust the main characteristics of the budget for the current …

Russia#039s three-year budget drafted based on $40 per barrel

Russia's three-year budget drafted based on $40 per barrel

The draft budget for 2017-2019 assumes sanctions against Russia will continue until 2019 year-end and the oil price of $40, the Russian Prime Minister Dmitry Medvedev said. The draft will be submitted to the State Duma …

 Russian Finance Ministry puts 3.66% budget deficit in 2016 draft

Russian Finance Ministry puts 3.66% budget deficit in 2016 draft

The Russian Finance Ministry has prepared a draft 2016 budget with a deficit amounting to 3.034 trillion rubles, or 3.66% of the gross domestic product (GDP). Nominal spending was increased by 304 billion rubles to 16.403 trillion …

Siluanov warns of wider budget deficit

Siluanov warns of wider budget deficit

Russian Finance Minister Anton Siluanov warned at a conference in Sochi that the budget gap will be wider this year than earlier forecast, forcing Russia to step up the pace of domestic borrowing. The deficit may …

Market management methods are applied to non-market economic structure in Russia

Market management methods are applied to non-market economic structure in Russia

Strict measures of budget policy should be applied to market players, not to state-owned companies

Russia#039s Reserve fund to be exhausted in 2017 — finance ministry

Russia's Reserve fund to be exhausted in 2017 — finance ministry

The Russian Reserve Fund will be exhausted over the course of the next year, the budget deficit financing will start from the Russian National Wealth Fund, Deputy Finance Minister Alexei Lavrov told journalists on Friday, TASS …

Vasily Yakimkin: Agriculture, military industrial sector and petrochemicals will remove Russia from oil dependence

Vasily Yakimkin: "Agriculture, military industrial sector and petrochemicals will remove Russia from oil dependence"

In August, the Ministry of Finance spent 390 billion rubles from the Reserve Fund (almost 20% of its total funds) to cover the deficit of the Russian budget. Will these funds be enough for the elimination of …

Putin: Russian economy stabilized, capital outflow decreased by 5 times

Putin: Russian economy stabilized, capital outflow decreased by 5 times

Russia estimates its efforts on economy recovery as modest, however, the situation has stabilized, the reserves have maintained, the capital outflow decreased by 5 times in comparison to the last year, Russian President Vladimir Putin …

Dmitry Medvedev: it is impossible to simply increase salaries and pensions

Dmitry Medvedev: it is impossible to simply increase salaries and pensions

Today, Russian Prime Minister Dmitry Medvedev urged fellow party members and the opposition to not offer electorate unrealistic dreams in order to attract their votes in the elections, stressing that no government would increase …

Construction of Kerch bridge to cost $3.54 billion

Construction of Kerch bridge to cost $3.54 billion

The total cost of construction of a bridge across the Kerch Strait will amount to 227.9 billion rubles ($3.54 bln) in the prices of the respective years.  It includes the costs of the project contractor Stroygazmontazh and ordering …

 Storchak: Reserve Fund may be depleted in next year

Storchak: Reserve Fund may be depleted in next year

Russia’s Reserve Fund may be depleted in 2017, the Russian Deputy Finance Minister Sergey Storchak said. "Yes, it is possible," he said when asked whether the Reserve Fund may be depleted next year. …

Peskov: too early to talk about specific articles to reduce budget costs

Peskov: too early to talk about specific articles to reduce budget costs

The Russian Presidential Administration and the government are unanimous in agreeing that in the current economic situation it is necessary to regulate the budget expenditures, the presidential spokesman Dmitry Peskov said, …

Pros and cons of #039frozen#039 budget

Pros and cons of 'frozen' budget

The Russian Finance Ministry’s proposal to freeze the federal budget spending in nominal terms for 3 years was approved yesterday at a meeting with the Prime Minister Dmitry Medvedev. The ministry proposed to set the …