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Investment in Russian economy moves into positive territory — PM Medvedev

The Russian budget deficit in 2017 may reach 2% instead of the previously planned 3.2%

© Dmitriy Astakhov/Russian government press service/TASS

MOSCOW, May 18. /TASS/. The dynamics of investment in the Russian economy moves into a positive territory, Prime Minister Dmitry Medvedev said on Thursday at a government meeting.

"We expect that by the end of this year these changes will become more noticeable, including GDP growth, which is forecasted at a more significant level - from 1% to 2%, whereas earlier we expected 0.6%," the prime minister said.

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Russia’s 2017 budget deficit may be below forecast — finance minister

He recalled that the current version of the budget was adopted taking into account the conservative scenario of the macroeconomic forecast.

"Domestic demand will gradually be restored, the dynamics of investment for the first time in a few years is expected to move into a positive territory," Medvedev added.

The prime minister noted that the main tasks of the budget policy remain the same for the government. "This includes timely fulfillment of social obligations, preservation of macroeconomic stability, consolidation of positive trends that we see in a number of economic sectors, which allow us to adjust the budget, support key economic sectors and gradually reduce dependence of the budget on world oil prices," Medvedev said.

Budget revenues up 22% in January-April

The revenues of the Russian budget grew by 22% over the first four months of 2017, according to Medvedev.

"In the first four months of this year, budget revenues grew by almost 22% compared to the previous year in nominal terms, and we expect that this trend will continue. According to the results of the year, the total revenue will surpass the plans that we have made approving the budget, it might be more than 1 trillion rubles ($17.3 bln)," the Prime Minister said.

Budget deficit may reach 2% in 2017

The Russian budget deficit in 2017 may reach 2% instead of the previously planned 3.2%, Medvedev said at a government meeting.

"I would like to remind you that earlier it was planned at the level of 3.2%," the prime minister said.

He added that non-oil and gas budget deficit, calculated without taking into account export revenues from sales of oil and gas, "should be the best in the last five years."

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Dmitry Medvedev Investment

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