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Law on the 2017 Federal Budget and the 2018–2019 Budget Plan

December 20, 2016

Vladimir Putin signed Federal Law On the 2017 Federal Budget and the 2018–2019 Budget Plan.

The Federal Law sets out the key parameters of the 2017 Federal Budget and the 2018–2019 Budget Plan. The 2017 budget is based on the anticipated GDP of 86.81 trillion rubles and the inflation rate below 4 percent. The total federal budget revenue is projected at 13.49 trillion rubles and spending at 16.24 trillion rubles. The federal budget deficit is therefore expected to be 2.75 trillion rubles.

The Federal Law also stipulates norms of allocation of revenues within the budget system in 2017 and the 2018–2019 planning period, as well as the programmes of state foreign and domestic borrowing and state guarantees.

December 20, 2016