UPDATE: Russian govt limits 2016 economic support to 250 bln rbl

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MOSCOW, Feb 19 (PRIME) -- The Russian government has generally approved a 2016 economic support plan draft, but the Economic Development Ministry was ordered to adjust it taking into account the fact that the anti-crisis fund may spend only 250 billion rubles on the goal this year, the government said in a statement Friday.

On Thursday, Economic Development Minister Alexei Ulyukayev said the economic plan for the year will stand at 880 billion rubles, 185 billion rubles of which will be provided from the government’s rescue reserves and 39.8 billion rubles from the National Wealth Fund, so the budget may be adjusted in order to find the lacking financing.

“The Economic Development Ministry with participation of interested federal executive authorities should adjust the plan’s draft taking into account the comments, and assume that the possibilities of financing of the plan’s corresponding measures from the 2016 federal budget…amount to 250 billion rubles,” the government’s statement read.

Deputy Prime Minister Olga Golodets said that the government will not use the money it received from a freeze of the accumulative part of pension savings on the economy support plan in 2016. “No, this money will stay in the Russian Federation’s budget for now,” she said.

Deputy Prime Minister Arkady Dvorkovich said that the government has already begun discussions on what measures should be crossed out from the economy support plan so that it fits the approved limit of 250 billion rubles.

The ministry should present the adjusted draft until February 25.

(75.4575 rubles – U.S. $1)

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