“We are not cutting costs, the total federal budget spending will only increase,” TASS quoted Siluanov as saying.
He noted that funds of the National Wealth Fund (NWF) and borrowing will be used to maintain planned costs.
Siluanov said earlier that the volume of the National Welfare Fund by the end of the year, taking into account expenses, will amount to 7 trillion rubles.
He also reported that the amount of resources allocated by the Russian authorities to curb the spread of the coronavirus and mitigate the effects of the pandemic is about 2.8% of GDP.