MOSCOW, December 16. /TASS/. The Russian Industry and Trade Ministry has reduced budget spending program for 2016 and 2017 by 2%, according to documents published on the government’s information disclosure Web site on Tuesday.

The overall 2015-2017 investment program was reduced to $2.7billion from $2.8 billion.

Spending will be cut for projects which have not been initiated so far, including the development of several models of helicopters and planes for regional flights, the ministry said.

On Monday, business daily Vedomosti reported citing its sources that in 2015 the government will cut budget spending by 10%.