19 September 2013, 06:13

Russian Federal Budget to be reviewed - Medvedev

Дмитрий Медведев курск совещание

The Russian Government will consider a draft Federal Budget for 2014 and for the 2015-2016 period according to a government press service official said.

Prime Minister Dmitry Medvedev announced he was declaring open a session of the governmental commission on budgetary projections.

"Our laborious work to balance the budget out in the light of the slowdown in economic growth in Russia and recession in Europe is drawing to completion," he said.

Upon recalling that expenditure on some budget items is to be cut down by not less than 5%, Medvedev emphasized that this would not apply to the "protected items" as well as to expenses on the implementation of the presidential decrees issued in May.

First Vice-Premier Igor Shuvalov told journalists later that main discussions at the commission's meeting were connected with a "freeze" on tariffs in 2014.

In particular, those present mulled over the question whether the ministries and infrastructure monopolies would be able to implement their investment programs in such conditions.

The Russian budget will get 619.3 billion roubles in additional revenue from raising the extraction tax in 2014-2016. The Finance Ministry said on Wednesday, September 18.

The tax will be raised from 470 roubles per tonne to 491 rouble per tonne in 2014, to 515 roubles per tonne in 2015, and to 545 roubles per tonne in 2016.

Voice of Russia, TASS

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