The draft budget for 2017-2019 introduced in the state Duma – Arguments and facts

Moscow, 28 Oct – AIF-Moscow.

the Government of the Russian Federation submitted to the State Duma a draft Federal budget for 2017 and the planning period of 2018 and 2019, according to the website of the Cabinet.

the Bill provides an income in the future year at 13,487 trillion, the expenditure will be 16,240 trillion, the budget deficit — 2,753 trillion rubles, or 3.16% of the GDP.

In 2017 to cover the budget deficit from the Reserve Fund it is planned to attract 1,15 trillion rubles from the national welfare Fund – 660 billion rubles.

the document proposes to change the financing structure of the deficit, using more borrowed funds. The size of loans amounted to 1.05 trillion roubles in each of the three years. The limitation on foreign loans is set at $ 7 billion.

By 2018, the government plans to increase revenues to 14, 844 trillion rubles (4,028 in 2017) and reduce costs to 15,986 trillion (16,039 trillion). Thus, the deficit will decrease to 1,142 trillion rubles.