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Meeting with Accounts Chamber Chairperson Tatyana Golikova

February 19, 2016, The Kremlin, Moscow

Vladimir Putin met with Accounts Chamber Chairperson Tatyana Golikova to discuss execution of the 2015 budget and the effectiveness of state spending.

Ms Golikova noted that the 2015 budget was executed in difficult circumstances. Amendments and implementation of anti-crisis measures also had an impact on the budget’s execution.

Despite the difficulties, however, budget revenue totalled 13.6 trillion rubles. This was 3.1 percent more than the planned figures set in the budget amendments. Spending came to 15.6 trillion rubles (with 243 billion rubles of planned spending not executed).

The budget deficit came to 1.955 trillion rubles, which is equivalent to 2.4 percent of Russia’s GDP (the forecast figure was 2.9 percent of GDP). The reserve fund decreased slightly: funds came to 3.2 trillion rubles as at January 1. This was due to Reserve Fund money being used to cover the budget deficit.

The National Welfare Fund increased by 19.1 percent and came to 5.2 trillion rubles as at January 1.

Ms Golikova noted too that Russia’s foreign debt posted a substantial decrease: down $4.4 billion from the initial figure of $50 billion.

February 19, 2016, The Kremlin, Moscow