Analysis of the Draft State Budget for 2016

The 2016 draft budget looks rather conservative in terms of moderate deficit which has been recently agreed with the IMF. However, it provides for a number of structural changes that will affect both individual revenues and expenditures of the state budget, as well as a broader structure of public finances (decentralization, quasi-fiscal spending reduction, etc.). Can these changes be called radical transformations or cosmetic adjustment? How will they affect economic growth? Are the indicators planned in the budget realistic? Will there be a reduction in the redistribution of GDP through the budget?