MOSCOW, June 4. /TASS/. The State Duma (lower house of parliament) committee on budget and taxes has recommended adoption of amendments to the law on 2018 federal budget and the planned period of 2019-2020 submitted by the government in the first reading. The consideration of the document in the Duma is scheduled for June 7.
Amendments envision an increase in budget revenues by 1.82 trillion rubles ($29.3 bln) in 2018, particularly through a surge in oil and gas revenues of 1.76 trillion rubles ($28.3 bln) and a rise in non-oil and gas revenues amounting to 59.8 bln rubles ($964 mln). Revenues will increase by 1.7 percentage points to 17.4% of GDP.
Budget expenditures will go up by 61.9 bln rubles ($998 mln) in 2018 to 16.6 trillion rubles ($267.8 bln), or 16.9% of GDP. Deficit of federal budget will turn into surplus this year amounting to 481.8 bln rubles ($7.7 bln), or 0.5% of GDP.