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RUSSIA'S ECONOMY

State Duma approves draft Russian budget for 2017-2019 in second reading

MOSCOW, December 7. /TASS/. The State Duma approved the draft Russia’s budget for 2017 and the planned period of 2018-2019 in the second reading. 325 members of parliament voted for approval of the budget, 57 voted against it, and 1 lawmaker abstained.

The draft three-year budget approved by the State Duma in the second reading provides for 2017 revenues of 13.5 trillion rubles ($211.6 bln) and expenses of 16.2 trillion rubles ($254 bln). Revenues in 2018 and 2019 are projected as 14 trillion rubles ($219.6 bln) and 14.8 trillion rubles ($232.1 bln) respectively. Expenses will total 16.04 trillion rubles ($251.5 bln) in 2018 and 16 trillion rubles ($250.7 bln) in 2019.

Deficit of the federal budget is projected to be 2.8 trillion rubles ($43.9 bln) in 2017, with gradual reduction to 2 trillion rubles ($31.3 bln) in 2018 and 1.1 trillion rubles ($17.2 bln) in 2019.

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