Russia’s federal budget is expected to face a shortfall of around 10 trillion rubles ($302.5 billion) in revenues needed to finance the government’s budget commitments in the period 2017-2020, according to a government strategy document, RIA Novosti reports.
Growing pension liabilities, a likely fall in revenues from raw materials exports, shrinking tax revenues and a reduced contingency Reserve Fund of windfall energy revenues may drain the country’s budget even further, RIA Novosti reports citing the Russian edition of Reuters.
“Even in case of a slow variant [of the development forecast], this figure is absolutely unrealistic,” RIA Novosti quotes Andrei Belousov as saying.
