The Ministry of Finance doesn’t plan to use the profits of the Russia’s Central Bank to cover budget holes, reported Reuters citing the Finance Minister Anton Siluanov.
This year, Russian authorities passed a law obliging the Bank of Russia to send 90 per cent of 2015-profit to the budget. In the previous year, the situation was the same. According to the report, in 2015 the Central Bank made profit of RUB 112.6 billion.
- We acknowledge that the situation with the budget will be tight, I would say that probably one of the most difficult in recent years since we simply won’t have a number of profitable positions we had this year, such as, for example, the profits of the Central Bank or proceeds from the privatization of Rosneft, Siluanov told a news conference.
Speaking at the St. Petersburg International Economic Forum, Siluanov promised to reduce the budget deficit and carefully carry out lending activities on the domestic market, the volume of which is on rise in 2017-2019.
The Head of the Bank of Russia Elvira Nabiullina warned that Russia risks to slide in a debt pit.
In January-May, the deficit in Russia’s federal budget amounted to 4.6% of GDP.
Power outages began in Crimea
Defendant in "Hizb ut-Tahrir" case missed birth of daughter
Chubarov: Mogilev fled from Crimea, when we fought for it
IS Militants shot nearly 300 people in Mosul
Merkel predicts sanctions against RF for actions in Syria
ATO Headquarters: Militants used Grads in Luhansk direction
Egypt resold "Mistrals" to Russia for $ 1
Russia refused to release Kolchenko and Sentsov to Ukraine
Dzhemilev and TİKA opened the Crimean Tatar cultural center
RF Cabinet of Ministers ‘snips’ Black Sea
Court considered case of Mejlis member Zeynur Yakubov in Cr
Putin's sinister image
Road map plan to ensure security in Donbas
Prosecutor of ATO forces charged with illicit enrichment
Crimea-SOS announces rally in support of kidnapped in Crimea
Scary and amazing, leading to the world of the unconscious: exhibition of masks
Italy hinders introduction of new sanctions against Russia
Incidence of tuberculosis in Crimea is higher than in Russia
Umerov received 2 examination results from FSB
Putin feared to see NATO ships in Sevastopol
Russia refused to return control of Debaltsevo to Ukraine
Ships of Russian Navy are heading to Scotland
Collection of unique documents on Crimea presented in Kiev
Anti-terrorist exercises launched in Krasnogvardeiskoe
Sanctions against RF for annexation of Crimea may increase