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Russia’s Federation Council approves federal budget for next three years

In 2017, the federal budget deficit will total 2.753 trillion rubles ($45 bln)

MOSCOW, December 14. /TASS/. The Federation Council (upper house of the Russian parliament) has approved the federal budget for 2017 and the planning period of 2018-2019 at a plenary session on Wednesday.

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Kudrin says it will be difficult to reach budget deficit of 3.1% of GDP in 2017

For 2017, the law on federal budget for a three years period envisages revenues at 13.487 trillion rubles ($221.8 bln), spending at 16.240 trillion rubles ($267 bln).

Revenues for 2018 and 2019 are forecast at 14.028 trillion rubles ($2.3 bln) and 14.844 trillion rubles ($244 bln) respectively, while spending will be 16.039 trillion rubles ($263.8 bln) in 2018 and 15.986 trillion rubles ($262.8 bln) in 2019.

In 2017, the federal budget deficit will total 2.753 trillion rubles ($45 bln) and will be systematically reduced to 2.011 trillion rubles ($33 bln) in 2018 and to 1.142 trillion rubles ($18.7 bln) in 2019.

155 senators voted for the budget.

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