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

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.

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.

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%.