“The state Duma adopted amendments to the budget for 2017

The Federal budget deficit for the year would amount to 2,008 trillion rubles

Moscow. 27 Oct. INTERFAX – the state Duma meeting on Friday adopted in the third and final reading amendments to the budget in 2017, which provides the direction of the repayment of zalojennosti defence companies, the recapitalization of several companies and the start of restructuring the budgetary credits.

Budget revenues by year-end 2017 are estimated at 14,720 trillion, which is 41.5 billion rubles more than planned. The cost will be increased by 125 billion rubles, to 16,728 trillion rubles. The Federal budget deficit for the year would amount to 2,008 trillion rubles.

The upper limit of the state internal debt on January 1, 2018 will be 9,276 trillion rubles, or 49.4 billion roubles higher than budgeted.
The upper limit of the state external debt of 1 January 2018 will reach $12.3 billion, $0.6 billion less than previously laid.

The amount of the Reserve Fund is reduced to 15.7 billion rubles, up to 1,045 trillion rubles. The volume of the national welfare Fund is also reduced by 1.2 billion rubles to 662,3 billion. It is assumed that the inflation rate will not exceed 3.2 per cent.

The bill is based on changes in indicators of the Federal budget for the current year based on the results of its execution in January-August, the changed macroeconomic indicators.

In the revised budget of 200 billion roubles will be used to cover debts of defense companies of the Russian Federation on commercial loans accrued in previous years.

Another position is the contributions to the Charter capital of companies. So, until the end of the year planned contribution to the state in the amount of 20 billion rubles to the Charter capital of Rosselkhozbank. It is also proposed to allocate 16 billion roubles to increase funds in the capital Fund of development of the industry. Additionally it is planned to send a contribution to the Charter capital of Russian Railways in the amount 17,686 billion, the contribution to the authorized capital of OSK – in the amount of 3.3 billion rubles. The bill provides for two new property contribution to the Corporation for promotion of development, production and export of high-tech industrial products “rostec” in the amount of 16,685 billion. The second reading of this bill the government sent to the state Duma a proposal to increase the Charter capital of Vnesheconombank in the amount of 10 billion roubles which will go on acquisition of shares of JSC “Russian export center”, in order to increase the authorized “Russian Agency for insurance of export credit and investment” (EXIAR).

Third position – start of the restructuring program of budget loans to the regions. It is assumed that the relevant agreements with the subjects of the Russian Federation will be signed till the end of the year.

According to the functional structure of expenses of open budget by 2017 spending on national defense increased by 28 billion roubles, interbudgetary transfers increased by 37 billion rubles, of state and municipal debt increased by 10.3 billion rubles. Financing social policy section reduced by 47.6 billion.

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