Would be enough money

Crisis hit Russia more than previously expected. Foreign exchange reserves since early August declined by 141 billion dollars, the deficit of the 2009 budget, according to IEG, may reach 6% of GDP, capital flight in the coming year, deputy chairman Alexei Ulyukayev is projected at $ 100 billion when it benefits companies by foreign borrowing in 2009, totaling about 160 billion U.S. budget in Russia in 2009 for the first time in ten years will be scarce, says presidential aide Arkady Dvorkovich. According to his estimates, the deficit will be 3.5% of GDP. According to the calculations of the Economic Expert Group (EEG), with the price of oil in 2009, $ 50 per barrel and keeping the budget expenditures for previously planned level will require 1 trillion rubles reserve to cover the deficit, at $ 30 per barrel - 1500000000000. But if the world economy will not stop falling in 2009, the deficit may exceed 5%, predicts Mr. Dvorkovich. Meanwhile, the scale of recession or economic growth depend not only on the price of oil, but also very much depend on the effectiveness of measures applied by the government, like Deputy Economic Development Minister Andrei Klepach. The budget deficit will be offset from the Contingency Fund. In any scenario for 2009 and 2010 it will be enough to fulfill social obligations, promises, Mr. Dvorkovich. Reduction of income tax from 24 to 20% of the Government expects to keep working capital available to businesses. In addition, companies no longer have to pay tax in advance, promises to Finance Minister Alexei Kudrin. The Government decided to increase from 1 million to 2 million rubles. size of the property tax deduction provided to citizens in the acquisition of housing, with hindsight. In sum, these innovations will cost the national budget in 2009 556 billion rubles., Prime Minister Vladimir Putin. According to FNS, the revenues from VAT, providing a quarter of the budget decreased by 5.3 times in November. Crisis cut, the 2009 budget has yet to be. Perhaps the government will have to temper its appetite for investment from new projects, assumes the first vice-premier Igor Shuvalov. The fall in commodity prices to help save the budget, he said. Contracts by state orders have already reviewed. But in the efficient use of money experts do not believe it. "The roads and hospitals in some regions and had been receiving gold," - like the leading expert EEG Elena Lebedinskaya. The government does not deny that in 2009, living standards continue to fall and that will be seriously affected by the crisis in the first place citizens who obtain mortgages and consumer loans. However, the need to help the people in the corridors of power began to speak only at the beginning of December. Vladimir Putin has promised the remaining unemployed mortgage borrowers to delay the payment of loans. True, said Finance Minister Alexei Kudrin, it will nebesplatnoy. The mechanism of state aid to borrowers must earn in January, but the documents are still not finally approved. How much will cost the government anti-crisis measures, it is not clear: specific solutions to support the real sector, not yet. "I would like to believe that at least two years, the Reserve Fund will suffice, although this account has already been in doubt" - is concerned, Ms. Lebedinskaya. However, Igor Shuvalov, hopes that the Cabinet would be completed investment projects initiated to preserve its social obligations and to support the industry. This, in turn, will help provide employment for the next two years.