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TABLE-Russia's 2017-2019 budget revenue proposals - agencies
October 2, 2016 / 8:26 AM / a year ago

TABLE-Russia's 2017-2019 budget revenue proposals - agencies

MOSCOW, Oct 2 (Reuters) - The Russian Finance Ministry is due to submit its
2017-2019 budget proposals on Oct. 13, which envisage tighter spending and lower
budget deficits. 
    The ministry is looking for ways to cut costs and raise additional funds to
cover holes in the state budget caused by weak oil prices. 
    It wants to keep state spending intact but at the same time cut the budget
deficit by 1 percentage point in the next three years. This year's deficit may
reach 3.5-3.7 of gross domestic product. 
    The ministry said it would raise borrowing, both domestic and foreign, but
concrete plans are not yet publicly known. It had said previously it may raise
up to $7 billion on foreign markets in 2017. 
    Below are some of the revenue gathering proposals, revealed so far by the
ministry on how to raise additional funds, as reported by Russian news agencies
and compiled by Reuters. 
                            2017                2018                2019
 AVERAGE OIL PRICE        $40/bbl             $40/bbl             $40/bbl
 AVERAGE ROUBLE         67.5/dollar         68.7/dollar         71.1/dollar
 REVENUES             13 trln roubles    13.7 trln roubles   14.7 trln roubles
 - privatisation       6 bln roubles       6 bln roubles       6 bln roubles
 - higher gasoline    43 bln roubles       48 bln roubles     50 bln roubles 
   exercise tax                                              
 - modified taxes     150 bln roubles     175 bln roubles     210 bln roubles
   on oil industry                                           
 - higher tobacco      35 bln roubles      82 bln roubles     126 bln roubles
 - higher dividends   269 bln roubles     277 bln roubles     288 bln roubles
   on state firms                                            
 SPENDING            15.79 trln roubles  15.79 trln roubles  15.79 trln roubles
 (Reporting by Darya Korsunskay and Lidia Kelly; Editing by Toby Chopra)

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