Russia made amendments to the 2016 budget - due to falling oil prices, 3 trillion were missing
The State Duma of the Russian Federation adopted today in the first reading a bill on amendments to the budget for 2016. 334 deputies from United Russia voted “for”, all three opposition factions voted against.
The amendments consolidated the worsening forecast for the budget deficit to 3,7% of GDP. It will have to be covered from the reserve fund.
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“We lack more than 3 trillion rubles in income. What happened? When the budget was adopted, it included an oil price of 50 dollars, today it is proposed to adjust it to 41,” said Andrei Makarov, chairman of the budget and taxes committee, representative of United Russia, speaking from the State Duma rostrum.
At the same time, he admitted that a decrease in oil prices by $1 means a loss of 140 billion rubles for the budget.
“Where did the 3 trillion come from? Back in 2013, we budgeted for expenses based on revenues of 16 trillion rubles. We did not reduce expenses and retained all state obligations and all social support. Thus, by the end of the year, 123 new schools will be opened,” Makarov said.
The opposition criticized the bill.
“I cannot agree that our budget is socially oriented. Healthcare – minus 16 billion rubles, social support – minus 22, accessible environment – minus one and a half billion, education – minus 9. The increase in food prices was 2,4%, tariffs increased by 4,8%,” said communist Vera Ganzya.
“The trends that the government has laid down in this bill will be maintained for 2017. Therefore, the LDPR cannot support the amendments,” said Zhirinovite deputy Sergei Katasonov.
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