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Ministry of Finance of the Russian Federation Reconsiders the Budget

Ministry of Finance of the Russian Federation Reconsiders the Budget

Ministry of Finance of Russia late at night on March, 16 directed amendments to the federal budget for 2009 on consideration of the government, ITAR-TASS informs. It is expected that changes suggested by Ministry of Finance into the law "About Federal Budget for 2009 and for Scheduled Period till 2010-2011" will be considered at the session of the government on Thursday, March, 19. The working budget accepted in November, 2008 was made proceeding from predicted 95 dollars price for oil for barrel. Now parameters of the budget are reconsidered pending prices for oil which will be 41 dollars for barrel.

According to preliminary data, incomes in the new version of the budget for 2009 will make 6,3 billion roubles, while charges are planned at a level of 9,6 billion roubles. Deficiency of the budget - 2009 will make eight percent of gross national product, while the difference between incomes and charges will be covered due to the means of Reserve Fund.

- Actually, FORUM.msk wrote already in the process of adoption of the document, in autumn that the budget, having in view 95 dollars for barrel would be necessary to reconsider in the first quarter, - editor-in-chief of FORUM.msk Anatoly Baranov commented on a situation. - How could it be other way, if already during that moment price for oil was below assumed by the budget? It was especially amusing to observe transition to triennial summer budgetary planning, at the time when crisis has been already developing throughout the world and nobody could predict anything even for half a year ahead - well, here you are the reason of the statement about steady rouble, throwing into the dustbin forex holdings and so on. Well, I think we will see a lot of fascinating scenario with such government.


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