Russian Cabinet may boost spending amid rise in revenues this year — Finance Ministry
It is early to speak about specific figures and it is needed to wait until the cabinet approves relevant amendments, Deputy Finance Minister Vladimir Kolychev said
MOSCOW, May 29. /TASS/. The Russian government has an opportunity to scale up budget spending amid the rise in non-oil and gas revenues this year, Deputy Finance Minister Vladimir Kolychev told reporters.
"We see the economy is growing more dynamically from the year start; accordingly, the revenue base is also growing more vigorously. The government represented by the Ministry of Economic Development changed the forecast for this year and this revised forecast was catered for when computing incomes," the official said.
"This means higher non-oil and gas revenues and in line with the [budget] rule, the government has an opportunity to suggest increasing expenditures against the rise in non-oil and gas revenues. As regards expenditures, this largely pertains to measures related to implementation of the presidential State of the Nation Address," Kolychev noted.
It is early to speak about specific figures and it is needed to wait until the cabinet approves relevant amendments, he added.