Russian Federation's Central Bank to give 90% of profit to the budget

Russian Federation's Central Bank to give 90% of profit to the budget

The next year the principle of the profit distribution of the Bank of Russia will be changed: according to the law signed today by President Vladimir Putin ‘On specifics of the transfer in 2016 of the profit received by the Central Bank of the Russian Federation at the end of 2015’, up to 90% of the profits of the Central Bank of the Russian Federation received after 2015 and left after tax payments will be transferred to the budget.

The federal budget spent only 75% of the profits of the Central Bank, and  increasing the share for the additional 15% will attract another 56 billion to the budget, according to estimates of federal officials.

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