Financial news

Kudrin proclaimed the era of economy

22 апреля 2009 г.

The minister of Finance Alexei Kudrin says that the next year the chain of growth of federal budget expenses in nominal term will be broken, that’s why a number of directions will have to be cut. According to the prognosis of the Ministry of Finance for 2010 and 2011 the budget in the nominal term will stay approximately at the same level as in 2009. The deficiency should be reduced roughly from 7,4%, of the GDP to 5% of the GDP.

The Minister noted that in 2010 and 2011 there will be fewer possibilities to use the assets of the Surplus Fund for coverage of the budget deficiency and retain the level of expenses. However , according to the pessimists, the Surplus Fund can be fully devastated the next year. Because by the beginning of the next year, according to the Ministry of Finance plans, there can remain less than 2 trillion roubles.

The deficiency of the regional budgets of the Russian Federation in 2009 will amount 800-830 billion roubles. The incomes of the subjects of the Russian Federation budgets in 2009 will decline by 1,1 trillion roubles or by18% compared to the previous year. At the same time the decline in the supply from income tax in the regional budgets is predicted at the level of 45%. The expenses of the regional budgets, according to the head of the Ministry of Finance, will decline approximately by 5% comparing to 2008. Unbalanced funds will amount to about 800-830 billion roubles.
 

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