MOSCOW (Sputnik) — Russian President Vladimir Putin signed a decree on the federal budget for next year, according to an official statement published Tuesday on the governmental web portal for legal documents.
15 December 2015, 09:32 GMT
The state is expected to take in some $195 billion in revenue in 2016, while the budget deficit will stand at 3 percent of GDP, or over $33 billion.
The document projected inflation in Russia not to exceed 6.4 percent next year and the average price of the Russian Urals oil blend to be about $50 per barrel.
The limit on foreign debt by January 1, 2017, stands at $55.1 billion, according to the decree.
Under the 2016 budget, pensions will undergo mandatory indexation to increase by 4 percent and may be raised further to reflect the current economic and social environment.
