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Russia’s Budget Deficit Falls

Russia’s Budget Deficit FallsRussia’s Budget Deficit Falls

Russia’s budget deficit for January-September 2016 amounted to 1.576 trillion rubles ($25.09 billion) or 2.6% of GDP, according to the finance ministry, Tass reported. The federal budget deficit declined in comparison with January-August, when the figure was 1.519 trillion rubles ($24.15 billion), or 2.9% of GDP. It is expected that by the end of 2016 budget deficit will reach 3.7% of GDP. During the first 9 months of this year, the federal budget received 9.294 trillion rubles ($147.76 billion) of revenue, accounting for 67.6% of the annual plan. Spending in January-September amounted to 10.869 trillion rubles ($172.8 billion), or 67.5% of the budget financing targets.

 

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