Russian authorities are to return to the pre-crisis schedule of drafting a federal budget: this year the government intends to submit to the State Duma a draft of the country’s primary financial document for 2011—2013 in August, as it was done prior to 2009, vice PM and finance minister Alexei Kudrin said Friday at a meeting of the ministry’s board. The schedule of drafting a budget for the next financial year and the planning period is regulated by the Russian Budget Code. Earlier the Code set August 26 as a deadline for the budget to be submitted to the State Duma, but last year amendments were made to the Code which allowed the government to bring the 2010 budget to the parliament by October 1, 2009.
“Our schedule will be based on the one set forth in the pre-crisis Budget Code. The fact the 2010 budget was brought to the State Duma by October 1 was an exception. We’re currently working in line with the schedule to get the draft budget ready by mid-August," Kudrin said.

Alongside this he admitted that the timeframe of submitting the budget to the parliament this year could be changed. “Tatjana Gennadievna Nesterenko (deputy finance minister) could be requested once again to weigh our opportunities taking into account uncertainties which are still visible with regard to the submission of key documents to the State Duma and present final proposals on the schedule. Consequently, if we decide to change it, it will be necessary to submit a relevant proposal to the government and the parliament," he said.

Earlier Nesterenko said the 2010 budget is being revised based on the macroeconomic forecast presented by the Ministry for Economic Development in December 2009. Due to the new forecast and new legislative provisions 2010 budget revenues and spending were adjusted and, as a consequence, a threat arose that the budget deficit could rise from the planned 6.8% to 7.2%. The finance ministry already prepared a plan of action to hold the budget deficit in the announced corridor.