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Russian government submits amendments to federal budget to State Duma

October 11, 2016, 10:11 UTC+3
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MOSCOW, October 11. /TASS/. The Russian government has submitted draft amendments for the 2016 federal budget to the State Duma. According to the government website, the draft law proposes to adjust the main characteristics of the budget for the current year, taking into account expected assessment of the socio-economic development of Russia and budget implementation in 2016.

Thus, according to the draft document, budget deficit this year will increase by 674.2 bln rubles ($10.85 bln) to 3.034 trillion rubles ($48.84 bln) or 3.7% of GDP, budget revenues will be reduced by 369.9 bln rubles ($5.9 bln), expenses - increased by 304.3 bln rubles ($4.9 bln).

It is noted that the increase in the budget expenditures for the current year is due to the increase of costs for implementation of priority areas and cost reductions in other areas.

Amendments adopted at a Government meeting on October 6 included changed estimations for GDP - increased to 82.815 trillion rubles ($1.33 bln) from 78.673 trillion rubles ($1.26 bln), inflation was decreased to 5.8% from 6.4%.

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