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Presidential Executive Office2023
Events

Meeting on budget planning for 2016

Vladimir Putin held a meeting on budget planning for 2016. The meeting participants discussed key issues of forming the federal budget and extra-budgetary funds for the upcoming period.

September 22, 2015
15:00
Novo-Ogaryovo, Moscow Region
Meeting on budget planning for 2016.
At a meeting on budget planning for 2016.
At a meeting on budget planning for 2016. With Prime Minister Dmitry Medvedev.
At a meeting on budget planning for 2016. Deputy prime minister Olga Golodets.
At a meeting on budget planning for 2016. Presidential Aide Andrei Belousov (left) and deputy prime minister Dmitry Rogozin.
At a meeting on budget planning for 2016. Accounts Chamber Chairperson Tatyana Golikova (right) and Chairman of the State Duma Committee on Budget and Taxes Andrei Makarov.
At a meeting on budget planning for 2016. Central Bank Governor Elvira Nabiullina.
At a meeting on budget planning for 2016. Energy Minister Alexander Novak (left) and Economic Development Minister Alexei Ulyukayev.

The meeting was attended by Prime Minister Dmitry Medvedev Medvedev Dmitry Medvedev DmitryDeputy Chairman of the Security Council of the Russian Federation , Federation Council Speaker Valentina Matviyenko Matviyenko Valentina Matviyenko ValentinaChairwoman of the Council of Federation , State Duma Speaker Sergei Naryshkin Naryshkin Sergei Naryshkin SergeiDirector of the Foreign Intelligence Service , Chief of Staff of the Presidential Executive Office Sergei Ivanov Ivanov Sergei Ivanov SergeiSpecial Presidential Representative for Environmental Protection, Ecology and Transport , First Deputy Prime Minister Igor Shuvalov Shuvalov Igor Shuvalov IgorChairman of the State Development Corporation VEB.RF , deputy prime ministers Olga Golodets Golodets Olga Golodets Olga , Arkady Dvorkovich Dvorkovich Arkady Dvorkovich Arkady and Dmitry Rogozin Rogozin Dmitry Rogozin Dmitry , First Deputy Speaker of the State Duma Alexander Zhukov Zhukov Alexander Zhukov AlexanderFirst Deputy Speaker of the State Duma , Presidential Aide Andrei Belousov Belousov Andrei Belousov AndreiFirst Deputy Prime Minister , Finance Minister Anton Siluanov Siluanov Anton Siluanov AntonFinance Minister , Economic Development Minister Alexei Ulyukayev Ulyukayev Alexei Ulyukayev Alexei , Energy Minister Alexander Novak Novak Alexander Novak AlexanderDeputy Prime Minister , Accounts Chamber Chairperson Tatyana Golikova Golikova Tatyana Golikova TatyanaDeputy Prime Minister , Central Bank Governor Elvira Nabiullina Nabiullina Elvira Nabiullina ElviraGovernor of the Central Bank of the Russian Federation (Bank of Russia) , Chairman of the State Duma Committee on Budget and Taxes Andrei Makarov, and Rosneft CEO Igor Sechin Sechin Igor Sechin IgorRosneft CEO, Chairman of the Management Board .

* * *

President of Russia Vladimir Putin: Good afternoon, colleagues,

Today, we will talk about issues that concern representatives from all the agencies present here: the Federal Assembly, the supervisory agencies, the Central Bank, the Government Cabinet and our leading businesses, including from the key industry, the oil sector.

Let’s talk about how work is progressing on the draft federal budget and extra-budgetary funds for 2016. This work is about to enter its final stage. In October, the completed draft law should be submitted to the State Duma.

Today, I propose that we focus on the fiscal policy for next year, discuss key outcomes and, of course, reach concrete decisions on the federal budget’s main parameters.

The planned budget deficit for next year should not exceed 3% of GDP. This is one of the most important benchmarks for the Cabinet during the budget process.

Before we begin our work, I would like to identify several priorities.

First, it is imperative to ensure the balance and stability of public finance, and to considerably decrease the federal budget’s dependence on oil prices and benchmarks.

The planned budget deficit for next year should not exceed 3% of GDP. This is one of the most important benchmarks for the Cabinet during the budget process.

In order to reach that level, I ask you to look very carefully at the revenue side of the budget, improving administration and increasing tax collections. At the same time, please remember that we made a decision not to increase the tax burden on businesses.

In the present environment, it is particularly important to provide a set of measures to overcome the economic recession and maintain the role of the federal budget as one of the leading development tools.

Meanwhile, I am asking the Cabinet to look into bringing additional revenues into the budget received by our exporters as a result of the ruble’s devaluation. Naturally, we need to tread very carefully, in order not to weaken the economy of export companies, maintaining their investment opportunities.

Second, the Government’s fulfilment of social obligations to the public should be at the centre of our attention. The federal budget should finance the most important objectives in healthcare, education and science. Government expenditures for these goals should fully meet the needs and demands of society.

Of course, it is also imperative to continue working on improving efficiency in budgetary spending in the social sector. In this respect, I am asking you to accelerate the transition to targeted social support for the most vulnerable categories of our citizens. We have been talking about this for many years. First and foremost, we need to support those who truly need this kind of help.

The federal budget should finance the most important objectives in healthcare, education and science. Government expenditures for these goals should fully meet the needs and demands of society.

Third, in the present environment, it is particularly important to provide a set of measures to overcome the economic recession and maintain the role of the federal budget as one of the leading development tools.

Projects financed through the budget should stimulate economic growth and private investments. I am referring primarily to import substitution programmes in manufacturing and agriculture. I ask the Government to provide regular financing in these areas and particularly monitor the efficacy of these expenditures.

In addition, we must give attention to strengthening the nation’s economic potential, which should include examining the option of recapitalisation for institutions supporting exports.

Fourth, the federal budget should include spending on infrastructure development. We must remove any bottlenecks in problem areas in transportation and the energy sector, eliminating limitations that hinder business activity; in particular, I am referring first and foremost to Russia’s regions. I am talking primarily about implementing plans to develop roads, the railway network, airports and seaports.

Projects financed through the budget should stimulate economic growth and private investments. I ask to provide import substitution programmes in manufacturing and agriculture.

Finally, an important issue I would like to point out is increasing the human and technological potential of Russia’s economy. It is imperative to create new scientific capacity and professional competence, implementing modern systems for professional standards and increasing the quality of labour resources, first and foremost in engineering, which we have also discussed a great deal lately.

These approaches are reflected in the National Technology Initiative, which the Government is working on. Sufficient funding should also be provided for this in the federal budget.

I ask the Government to work through all of the suggestions presented during today’s discussion and to report on when the draft federal budget will be ready for submission to the State Duma.

We know that the economic situation is complicated, but it is not critical. We must make the right, calibrated decisions with the goal of strengthening our nation’s economic potential, and we have everything we need to do this. Our decisions will affect our continued work in the most important sector, whose success we are working towards: the social sector. We must strengthen the economy and use that development to resolve social issues.

Let’s get to work.

<…>

Topics

  • Budget
  • Economy and finance

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Published in sections: News, Transcripts

Publication date: September 22, 2015, 15:00

Direct link: en.kremlin.ru/d/50344

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Meeting on budget planning for 2016

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Last updated at September 23, 2015, 10:27

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