Russian Authorities Will Allocate 9 % of GDP to Support the Economy in 2020–2021
OREANDA-NEWS. The volume of anti-crisis support for the Russian economy in 2020–2021 will amount to 9 % of gross domestic product (GDP), Finance Minister Anton Siluanov said. At the same time, he hopes that unplanned measures will not be needed next year.
“Generally speaking, how much money the state will spend this year and next, it is about 9 % of GDP, because we have switched from a surplus budget to deficit, budget revenues have been sharply reduced, and all this will require additional financial opportunities to be found,” the politician explained.
Siluanov hopes that no additional funds will be required in 2021. “I would like to hope that we will be able to do with planned decisions and will not take any additional unplanned measures,” the Minister of Finance said.
The volume of the Russian National Welfare Fund as of October 1 amounted to 13.733 trillion roubles (about 179.5 billion US dollars), or 12.1 % of the country’s GDP.