Allocations from the federal budget for the anti-crisis program will reach 1.6 trillion rubles ($47.5 billion) and another 450 billion rubles ($13.4 billion) will be spent on loans and guarantees. 848.6 billion rubles ($25.2 billion) will also be spent on tax incentives.
The Central Bank will give 500 billion rubles ($14.8 billion) to help shore up the banking sector's liquidity, and 255 billion rubles ($7.6 billion) from the reserve fund will be disbursed in subordinated loans, according to the ministry.
Russia's foreign exchange reserves will decrease by $88 billion in 2009, of which net capital outflow will account for $83 billion and current account deficit for $5 billion, the ministry said.
Russia's foreign exchange reserves shrank $131 billion in 2008, of which net capital outflow accounted for $139.1 billion. However, the current account balance registered a surplus of $8.1 billion.
