The Russian government has drafted a budget for 2013-2015 proceeding from average oil prices in the past years, and the draft will be submitted to the lower house of parliament by October 1, Prime Minister Dmitry Medvedev said in his video blog on Friday.
“The government has completed work on the budget draft for 2013 and for the period of 2014 and 2015. It will be submitted to the State Duma by October 1,” Medvedev said, adding that the budget will be socially oriented.
The premier said the budget has a margin of safety.
“Now the volumes of government liabilities, long-term investment programs are not pegged to the current crude price,” Medvedev said, adding that this would ensure stability.
The budget allocates 2.5 trillion rubles ($80.7 billion) to healthcare and 627 billion rubles ($20.2 billion) to education.
Over 400 billion rubles ($12.9 billion) has been reserved for subsidies to Russian regions, Medvedev said.
