2015-03-23 20:09 Author: (PAP) (ed. A.Zwoliński) [Photo: Pavel Kazachkov / Flickr (CC BY 2.0)] 
Russia threatens to rapid loss of reserves, if it can not reduce the budget deficit – said Monday the Russian Finance Minister Anton Siłuanow. How did Reuters, the Ministry of Finance has difficulty in getting the Kremlin to cut spending. Amendments to the budget, over which debates pride, can make that Russia will this year to 3.1 trillion rubles (53 billion dollars) from their reserves. This means that in the national Reserve Fund will be only 2.6 trillion rubles, which is less than $ 40 billion.
– We must use our reserves very sparingly – Siłuanow Russian deputy said, who are debating amendments to the federal budget.
The Minister stressed that the deficit, which reaches 3.7 percent. Of GDP, the deficit is very significant, 3.7 percent. the deficit is projected at the end of 2015.
The Russian Ministry of Finance, which is in favor of a strict budgetary policy, trying to persuade the government to reduce spending due to the economic slowdown, lower oil prices and the impact of Western sanctions imposed on Russia – writes Reuters.
Back in February, during the financial G20 Istanbul, Siłuanow said that in Russia it is necessary to further reduction in budgetary expenditure in 2015, this time by 600 billion rubles.
It was a further budget savings that would resort to force, regardless of the anticipated spending cuts of 10 percent. budget, but that does not involve the defense sector, debt service and social security in Russia.
However, the reduction in spending will reach only 300 billion rubles ($ 5 billion.), so the ministry had to revise its projections for the budget deficit, which will be higher than expected.
Amendments to the budget, over which debates pride, can make that Russia will this year to 3.1 trillion rubles (53 billion dollars.) with its provisions; This means that in the national Reserve Fund will be only 2.6 trillion rubles.
If a central bank starts to reprint money to cover budget shortages, it will shoot further inflation, which is already at the top of 13 years. And, as said Siłuanow, rapid loss reserves is not in the interests of Russia.
At the end of January, the Russian Ministry of economic development has corrected its macroeconomic forecast for 2015 – in the new states that gross domestic product (GDP) in Russia this year will fall by 3 per cent., and inflation will rise to 12 percent.
In the previous forecast, which was announced at the beginning of December 2014, the Ministry of economic development predicted that GDP in 2015 will decrease by only 0.8 per cent., while inflation reached 7.5 percent.
The new macroeconomic forecast is based on the assumption that the average price of Urals crude oil in the current year will be $ 50 per barrel. In December, the Ministry stipulated that it would be $ 80. Proceeds from oil and gas exports account for more than half of Russia’s budget revenues.
The Russian Ministry of Internal Affairs intends to release 110,000 employees. According to the newspaper “Vedomosti”, the information passed at a meeting with activists of the ruling United Russia party Minister Vladimir Kołokolcew.
According to “Vedomosti”, the first step will be laid off about 78,000 officers employed directly in the ministry and its regional structures.
Earlier – from February 1 – resort stopped recruiting new employees. Some commentators found that the exemptions are related to the financial crisis and government austerity plans.
Sam minister explained that it is about downsizing. Meanwhile, the Regnum agency, citing a source in the State Duma says that the head of the Interior Ministry expressed the opinion that a 10-percent budget cuts paralyze his ministry.
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