MOSCOW, October 28. /Offset. TASS Daria Karamysheva/. The draft Federal budget for 2017-2019 made on 28 October in the state Duma. Despite all the difficulties, the budget assumes no major changes in tax legislation and provides for the fulfillment of all social obligations, said Russian Finance Minister Anton Siluanov.
“it is Important that the draft budget for 2017-2019 made in the three-year format, which gives grounds for business and the public to understand what social and economic policies will be carried out by the Russian government in the next three years”, – said Siluanov.
budget Options
Revenues in 2017 are planned at 13,486 trillion rubles, in 2018 – up to 14 trillion and in 2019 – up to 14,844 trillion rubles. In turn, the costs in 2017 provided in the amount 16,24 trillion rubles, in 2018 – 16,039 trillion and in 2019 – 15,987 trillion rubles.
the budget Deficit in 2017 will reach 2 trillion 753 billion, that is, the government considers it possible to meet the budget deficit at 3.2% of GDP with further reduction.
“Logic, budgeted 2017-2019 years, says the following – we will promote the development of the economy through the stability of the macroeconomic conditions and tax conditions, the reduction of the budget deficit. The budget deficit is always uncertainty for the business: how it will be covered – through taxation, borrowings or other sources?”, – commented the Minister of Finance.
He stressed that the draft presented by the Ministry of Finance leads the budget in accordance with the current resource base.
“at the expense of budget consolidation on the one hand, by working with income, increasing administrative, expenses there are many expenses that can be deferred to future periods, and privatization. Most importantly, the budget deficit will shrink by 1% annually,” – said Siluanov.
According to him, it signals to investors and entrepreneurs about the confidence of the government in economic policy.
Modernisation
Siluanov said that in 2017 Russia will continue to modernize its armed forces. The Minister called it a geopolitical priority task. He recalled that the President set the goal to provide 70% modern weapons by 2020, and funds for this task are provided in “three-year plan”.
the Cost of national defense, laid down in the three-year budget will be in 2017, 72.9% of towards 2016. This allows you to remove the debt of enterprises of the military-industrial complex. Spending on national security will remain virtually unchanged – 1,943 trillion rubles.
overall, the budget for next year provided targeted support to priority areas set by the government. “We are talking about the new format. This priority projects-11, which will be performed priorities”, – said the head of Treasury.
we are Talking about areas such as health, education, mortgages, housing and communal services and improvement of the urban environment, increasing productivity, quality safe roads, export promotion, support of small and medium entrepreneurship, environment and company towns, oversight and enforcement. In 2017 for these purposes will be implemented once the economic support plan which will be funded from the anti-crisis Fund in the amount of 100 billion rubles.
privatization Plans
the Main sources of covering the deficit, the government sees internal and external borrowing and sovereign reserves. In particular, in 2017 it is proposed to use the Reserve Fund in the amount 1,152 trillion rubles, national welfare Fund – about 668,2 billion. Thus, next year the Reserve Fund will be exhausted.
as for privatization, this source of deficit yet there is no consensus. The Ministry of Finance has budgeted for 2017 138 billion rubles in privatization revenues. In 2018-2019, according to the Finance Minister, laid a total of 14 billion rubles, but the privatization plan will discuss in the next budget cycle.
In 2017, envisages the privatisation of state-owned shares of VTB (11%) and “Sovcomflot”. In this earlier source TASS in the financial-economic bloc of the government said that the Ministry of economic development has prepared a draft privatization plan for 2017-2019, which laid the privatization another 8% of shares of “ALROSA”, 35% of VTB’s shares, 25% of OJSC “Russian Railways” (RZD) and 50% shares of “RusHydro” and 25% of Transneft shares.
Another source reported that it is possible the privatization of an additional 10% of shares of “Rosneft”.
However, as said Siluanov, according to ALROSA, the government has “reached the limit”, and the proposal for the privatization of an additional 10% of shares of “Rosneft” the government was not discussed.
Support for regions
next year will be a significant change in intergovernmental relations, said the speaker. “The support of the constituent entities of the Russian Federation, but the support is more point than was the case earlier,” explained the Minister.
In 2016, the Finance Ministry made an inventory of expenditure commitments compared with the revenue sources of regional budgets and identified regions that truly need additional financial assistance.
According to Siluanov, in the following year, on the one hand, more attention will be paid to the level of budgetary provision, on the other hand, significant funds will be allocated to the promotion of regions, which are “advanced economic growth”.
Earlier, Deputy Finance Minister Leonid Gornin told TASS that from 2017 it is proposed to change the existing ratio of the rates of tax on profit of organizations between the Federal budget and budgets of regions, increasing the rate of the profit tax enlisted in the Federal budget, to 3%.
thus Obtained additional revenues of the Federal budget in 2017 are estimated at 121 billion. Of this amount, 100 billion rubles will be allocated to support the poorest areas through the provision of grants for equalization of budgetary security. Another 20 billion rubles will be additionally allocated for grants to stimulate the regions that in recent years, achieve high rates of economic growth, and therefore tax potential.
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