ALEXEY VEDEV: “BUDGET SECRECY TO DECLINE 15% FOR THE FIRST TIME SINCE 2013"

Alexey Vedev, Head of Financial Studies Department of the Gaidar Institute, shared his opinion with “Izvestia” on the draft budget for 2021-2023 submitted to the State Duma.

According to the state financial plan, the secrecy of the Russian treasury will fall below 15% for the first time since 2013.The amount of closed expenses in 2021 will reach RUB 3.2 trillion or 14.9% of the total spending of 21.5 trillion

Growth in budget transparency is primarily associated with a reduction in the specific value of defense and national security spending. A total of RUB 5.6 trillion will be spent for these purposes next year or almost 26% of the total amount of government spending.

Anton Siluyanov, the Minister of Finance, said on September 16 that the government approved a 5% reduction in the state arms program. In addition, spending on the national economy and social policy will increase by 17 and 4.5%, or up to RUB 3.3 and 5.6 trillion.

“It is unlikely that the decline in the share indicates a trend. Secret budget expenditures are related to defense measures and the rearmament program, and their size may vary depending on the state plans,” Alexey Vedev said.