They enter into force

The Russian laws on the federal budget for 2016 and the role of the Parliament in its formation enter into force.

Russian President Vladimir Putin signed the law on the federal budget for the next year. Budget revenues, according to estimates, should amount to more than 13 trillion 700 billion rubles in terms of oil and gas in the amount of about 6 trillion 45 billion rubles. Total expenditure in 2016 is planned in the amount of 16 trillion 98.7 billion rubles. Thus, the federal budget deficit in the next year will amount to more than 2 trillion 360 billion rubles, or 3% of GDP. The priority of the expenditure part - social articles, as well as support for agriculture.

In addition to the main financial document, the head of the Russian Federation signed a law to strengthen parliament's role in its formation. Due to the introduction of relevant amendments to the law "On parliamentary control" and the Budget Code the deputies and senators will have the authority to resolve disagreements between the Ministry of Finance, on the one hand, and the constitutional authorities of the executive, legislative and judicial branches - on the other, the formation of judicial branches budgets. Innovative legislations change the order of the data on the federal targeted investment program. In particular, we are talking about the fact that the State Duma in consideration of the draft budget will be provided with information on newly included capital construction sites with deadlines construction and project documentation with the entire positive conclusions.