The state Duma adopted the budget for 2017 in the first reading

Photo: Oleg Yakovlev/RBC

Deputies of the state Duma in the first reading adopted the draft budget with a deficit of more than 2.75 trillion voted Against 100 people, — 334 MP. The second reading will consider the bill in early December

The state Duma adopted in the first reading the draft law on the Federal budget for 2017. According to the document, budget revenues in 2017 scheduled in 13,4876 trillion rubles., expenses — in 16,2408 trillion So the deficit will be about 2,7532 trillion rubles, or more than 3% of GDP. In subsequent years, the budget revenues are expected to grow and the expenses and the deficit is reduced.

To cover the deficit in 2017 is expected due to the use of the Reserve Fund (in the amount of 1.15 trillion) and the national welfare Fund (in the amount of 668,2 bn). The result is a Reserve Fund by the end of 2017 will be completely exhausted, and NWF will consist of 4.19 trillion rubles.

The draft budget based on world oil prices of $40 per barrel. The average rate of the dollar against the ruble in 2017, as planned, will amount to 67.5 rubles, in 2018 — 68,7 rubles in 2019 71.1 per ruble. Inflation in 2017-2019 years, is expected to be 4%.

The draft law “On the Federal budget for 2017 and the planning period of 2018 and 2019 years” was submitted to the state Duma on 28 October 2016. In the press service of the Cabinet of Ministers noted that the key characteristics of the budget for the next three years calculated on the basis of the main indicators of the forecast socially-economic development of Russia in 2017-2019.

It is expected that the second reading of the bill on the Federal budget will be considered by the state Duma at the meeting on 7 December, in the third reading on 9 December.

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