The state Duma adopted in the first reading the draft budget for the 2019-2021 years

© RIA Novosti / Grigory to Sysoeva in fotobanka on the building of the State Duma of the Russian Federation. Archival photoThe state Duma adopted in the first reading the draft budget for the 2019-2021 years© RIA Novosti / Grigory to Sysoeva the image Bank

The state Duma adopted in the first reading the draft Federal budget for the 2019-2021 years, introduced by the government.

For the resolution voted by 370 deputies, against — 65, no abstentions. The second reading is scheduled for November 14.

«The policy, which is incorporated in the budget, focused primarily on the implementation of the tasks set by Russian President decree in may of this year. This is the problem in several directions,» — said, presenting the document to the deputies, first Deputy Prime Minister – Minister of Finance Anton Siluanov. First, he said, is the realization of national development goals that are set forth in the presidential decree.

«Here and tasks in the field of Economics — Russia’s entry in the top five countries with the largest volume of economy. This increase in the rate of economic growth above the world average. This task in the field of social, we’re talking about life expectancy of our citizens and joining the «club 80+» of countries with a life expectancy of 80 years. This increase in the wage, increase pensions», — said the head of the Ministry of Finance. «All these challenges that have been raised in the may decree, reflected and funding in the draft budget for the coming three years», — he assured.

«Budget surplus is a guarantee that we will be able to fulfil our commitments without reductions, without sequestrum like this before sometimes passed. We replenish our stock, the reserve Fund, in order to have a safety cushion in case of outside influence on our economy. Therefore, dear deputies, the budget meets the objectives set in the presidential decree, the budget is protected from external impacts», — said Siluanov.

«This budget reflects the goals and priorities identified by the President and includes the costs of 12 national projects and what we believe is in fact the 13th national project, it is a comprehensive plan for the modernization and expansion of highway infrastructure. These goals and objectives are reflected as priorities in the main directions of activities of the government. The national objectives enshrined personally responsible Deputy Prime Ministers, now we know whom to ask for the execution and achievement of national goals», — said, in turn, the Chairman of the accounts chamber of the Russian Federation Alexey Kudrin.

He believes that the monitoring of the achievement of all intermediate and final results of the implementation of national projects, which Siluanov said, and what will be personally conducted assessment and responsibility for their implementation significantly increases the transparency of the work on national projects. «Reduced budget dependence on oil prices the result of strict budget rules. But overall, I think it’s justified,» — said the head of the controlling Department.

At the same time he drew attention to a number of points. «There is a risk of a large borrowing program, which is planned, and it will be substantially increased next year compared with this year,» — said Kudrin. In addition, according to him, the draft three-year budget was submitted to the state Duma «is not in the current legislation». «The relevant article of the Budget code, which requires that the budget should be presented in legislation that was suspended previously, and thus we avoided the contradictions legislation, but I think this is a bad practice in the provision of budget,» he explained.

«In fact, together with the consideration in the first reading the basic parameters of the budget adopted amendments to the Budget code and to the legislation that address these issues. And just for example, yesterday was the first reading of amended allocation regulations on excise duty on alcohol and other revenue sources,» said Kudrin.

As a result, according to him, it turns out that the regions know about it only at the last moment. «And Unallocated resources, say, to the projects, which will go into the subjects of the Russian Federation, still even unknown and only during the second reading,» — said the head of the accounting chamber. «I think we need to more fully form the budget when submitting to the state Duma, without stopping the articles related to what the budget should be presented in the legislation, but I think we will achieve in the next years,» he added.

Commenting on this bill, the Chairman of the lower house of Parliament, Vyacheslav Volodin told reporters that now the state Duma together with the government, experts have a lot of work preparing it for its second reading.

«Not enough to allocate the resources necessary to ensure their effective use. In this regard, the state Duma has an enormous responsibility. It is important to ensure parliamentary control, to conduct intensive work in their regions, because all national projects is the solution to quite specific problems, the construction of a specific infrastructure,» — said the Deputy. «The committees of the state Duma needs to take control of the implementation of each state program according to its profile. It is necessary to conduct this work jointly with the government and with the accounting chamber», — said Volodin.

The bill

Budget revenues of the Russian Federation in 2019 is expected to be 19,969 trillion rubles, expenses — 18,037 trillion rubles, respectively surplus 1,932 trillion rubles, or 1.8% of GDP. When preparing the budget the Cabinet proceeded from a forecast of GDP 105,82 trillion rubles, inflation not higher than 4.3 percent.The state Duma adopted in the first reading the draft budget for the 2019-2021 years© RIA Novosti / Vladimir Fedorenkova in photosangelina told how to grow retirement 2020

In the next two years envisages a gradual growth in both revenues and expenses, and the surplus will be reduced. By 2020, revenues are budgeted in the amount of 20,219 trillion rubles, expenses — 18,994 trillion roubles, the surplus — 1,224 trillion rubles (1.1% of GDP). In 2021 the expected income 20,978 trillion rubles, expenses 20,026 trillion rubles and, accordingly, a surplus of 952 billion rubles (0.8% of GDP). GDP for these years is projected in the volume of 110,732 and 118,409 trillion rubles, inflation not higher than 3.8% and 4%.

Thus, according to the budget rule, additional oil and gas revenues will go to the reserves, namely the national welfare Fund. In 2019 will be considered as additional income from the price of Urals oil over 41,6 USD per barrel, they are expected to 3,369 trillion rubles. The forecast for 2020 is 2,777 trillion rubles (from oil is more expensive than 42.4 per dollar), for 2021 — 2,632 trillion rubles (from oil is more expensive than 43.3 per dollar). The result of the expected growth of SWFs over the past three years from 3.8 to 11.4 trillion rubles, or 3.8% to 12% of GDP.

Formed after removal of the oil and gas windfall «paper deficit» is scheduled to close mainly due to domestic borrowing: net attraction (income from investment minus debt service costs) in the budget from this source for the year 2019 inherent in 1,705 trillion rubles in 2020 to 1.8 trillion rubles, 2021 — 1,578 trillion rubles.The state Duma adopted in the first reading the draft budget for the 2019-2021 years© RIA Novosti / Vladimir Fedorenkova in photopackager am sure that the government will be able to curb the rise in gasoline prices

Eurobonds expected to place in the amount of up to $ 3 billion per year, but a plus for the budget this source will work only in 2021 because in 2019 the possibility of redemption of Eurobonds worth up to $ 4 billion, and for 2020 will have a planned peak of repayment of previously outstanding bonds is $ 5.1 billion.

The maximum amount of the Fund development planned to open in 2019 in the amount 436,9 billion rubles till 2020 582,8 billion, 2021 – of 612.9 billion rubles.

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