Rosbank: Russia can spend 20.5 tln rbl on Putin plan ‘18–24

MOSCOW, Mar 22 (PRIME) – The economic plan outlined by President Vladimir Putin in his address to legislators can cost Russia 20.5 trillion rubles in 2018–2024, Rosbank said in a report late on Wednesday.

“In the March address to the Federation Council, Putin announced new priorities for development of the country’s economy, paying attention to the problems in development of human resources and the quality of infrastructure,” the bank said.

“Our estimates put the total cost of the initiatives at 20.5 trillion rubles in the period of 2018–2024.”

According to the note, growth of the non-energy income of the budget and tax changes will not be enough to finance the targets but a budget rule change such as reduction of the Urals price threshold for spending to U.S. $45–50 per barrel can fund the costs.

(57.4954 rubles – U.S. $1)

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