The government has made “nest egg” in case of crisis – TVNZ

The government has made "nest egg" in case of crisis – TVNZ

Russia has reserves to resolve problems related to the economic environment. This was stated by Vladimir Putin at a meeting with members of the government, in Novo-Ogaryovo. The President praised the Cabinet for the well-laid out a budget for the next year and the next three years. Now he is under consideration in the State Duma.

– Government in difficult conditions managed to balance the budget, refusing to increase the tax burden, it was possible to optimize costs without cutting our social obligations and the funds allocated to development. Yet managed to solve some difficult or even seemingly intractable issues. But work remains to be large, we know that there is always a lot of discussion in the Parliament during the debate on the budget, – Putin said.

Finance Minister Anton Siluanov said that the budget has a deficit 0 6 percent of GDP for the whole trёhletku.

– We believe that this is normal, it is a small deficit. Costs were increased by approximately 11 percent, despite the fact that, indeed, difficult times – said Siluanov.

According to him, the budget takes into account all appropriations for the program to support the Crimea and Sevastopol, the expenditures for the program ” Far East and Trans-Baikal region, “scheduled money on development of the Moscow transport hub, to resolve the housing problems of war and support for exports.

– We see that the situation on foreign markets, especially in commodity markets has deteriorated and is not in line with our forecast . That in these conditions we do? We have a reserve. We are in the draft budget is not allocated until the 70 billion rubles, and by the end of this year, we hope to fill the reserve to increase it to the amount somewhere 100-150 billion rubles – said Siluanov.

According to him, to save more, the government will analyze the cost of all government programs.

– We offer either reallocate some resources of government programs, or to refuse, and perhaps in the present new conditions to increase the bailout provision – said Siluanov.