Russian Ministry of Finance

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Russia reduces budget's dependence on oil

Russia reduces budget's dependence on oil

Russia's non-oil and gas budget deficit will be less than 6% in 2018-2020, the head of the Russian Ministry of Finance Anton Siluanov said, speaking yesterday at the meeting of the State Duma Committee on Budget and …

Russian oil export duty rises by by $8.2

Russian oil export duty rises by by $8.2

Russia's oil export duty is expected to rise to $96.1 per tonne in November from $87.9 per tonne in October, data from the Russian finance ministry showed on Monday. The rate is calculated by the finance ministry and is based on the …

Russia to bring budget deficit down to zero

Russia to bring budget deficit down to zero

Russia's Finance Ministry expects that the budget deficit will be 2% this year, the head of the ministry Anton Siluanov said on the sidelines of the annual autumn meeting of the World Bank and the International Monetary …

Russia's minimum wage to increase by 53% in three years

Russia's minimum wage to increase by 53% in three years

The Russian government approved the draft law on increasing the minimum wage from January 1, 2018, setting it in the amount of 9,489 rubles ($164.2), the Russian Minister of Labor and Social Protection Maxim Topilin said. …

Economic records of post-crisis Russia

Economic records of post-crisis Russia

Russia's inflation has reached a historical minimum, the Russian Prime Minister Dmitry Medvedev said at today's government meeting  "The positive dynamics of the gross domestic product is being …

Russian Finance Ministry predicts 2018 federal budget deficit

Russian Finance Ministry predicts 2018 federal budget deficit

The forecasted deficit of the federal budget in 2018 will reach 1.33 trillion rubles ($23.07 bln) with income of 15.18 trillion rubles ($263.28 bln) and expenditures of 16.51 trillion rubles ($286.35 bln), according to the draft law on the …

Siluanov: no new major deals set in Russia yet

Siluanov: no new major deals set in Russia yet

No major deals are set in Russia for the foreseeable future, the country's Finance Minister Anton Siluanov said. "Privatization is always on the agenda," he noted, adding that there are strategic …

Oil price to reach $40, but dollar not to reach 70 rubles

Oil price to reach $40, but dollar not to reach 70 rubles

Russia’s Finance Ministry expects that the oil price will drop to $40 per barrel after the oil production reduction agreement between OPEC and non-OPEC oil producers expires, Russia's Deputy Finance Minister Vladimir …

Siluanov: Russia to face difficult years

Siluanov: Russia to face difficult years

Russia will face difficult times in 2018 and 2019, the head of the Russian Ministry of Finance Anton Siluanov said on the sidelines of at the St. Petersburg International Economic Forum. "We will have to go …

Russia finance ministry suggests cutting budget deficit

Russia finance ministry suggests cutting budget deficit

Russia's finance ministry suggests cutting this year's budget deficit by 829 billion rubles (£11.3 billion) by 30.1% to 1.924 trillion rubles. The ministry also sees this year's budget revenues rising by 1.144 trillion …

Russia's budget loses 46 billion rubles in oil revenues

Russia's budget loses 46 billion rubles in oil revenues

The Russian budget in April received only 18.5 billion rubles as additional oil revenues, instead of previously projected 64.5 billion, the country's Ministry of Finance said. The deviation of the actually received oil and gas …

'People's' bonds becoming popular

'People's' bonds becoming popular

For the first day, the Russians bought government federal bonds for individuals - 'people's bonds' - in the amount of 696.8 million rubles, the Russian Ministry of Finance said. "The placed volume is 696,807 million …

 Russian banks 'lost' 100 billion rubles in year

Russian banks 'lost' 100 billion rubles in year

The Russian government is concerned about the reliability of the domestic banking system, the Russian Finance Minister Anton Siluanov said at the convention of the Association of Russian Banks. "We have lost more …

Russian Finance Ministry on meaning of 'people's bonds'

Russian Finance Ministry on meaning of 'people's bonds'

Russia's Finance Ministry plans to start sells of the first issue of government federal bonds for individuals, the Director of the Public Debt and State Financial Assets Department of the ministry, Konstantin …