Budget may get 3 trln rubles less than expected in revenue in 2014-16 - Kudrin
Russia's federal budget may get over 3 trillion rubles less than expected in revenue in 2014-16, Russia's ex-finance minister Alexei Kudrin told reporters.
"The risk zone for the coming three years is over 3 trillion rubles," he said on the sidelines of a world economic forum in Moscow.
The risk of getting less than expected is rooted in slowing economic growth, a decrease in the export and import volumes, and a shortfall in privatization and tax revenue, he said.
GDP growth will be below 1.8 percent in 2013 "and stand at about 1.6 percent," Kudrin said.
The potential of Russia's economic growth in 2014 is at about 2 percent, he said. "Our growth potential in 2014 is about 2 percent, or even less," Kudrin said.
The Economic Development Ministry projects GDP growth at 3 percent in 2014.
Kudrin also said that the potential of the Russian economy's growth in the coming five years will be below 3 percent. "We have got stuck to our ears in stagnation. If the government does not carry out reforms, the situation may drag on for three to five years," he said.
The ex-finance minister also sid that after the end of the quantitative easing program in the United States, oil prices will drop below $100 per barrel in two years and below $90 per barrel in three-four years.