Finance Ministry puts Russia’s Jan-Feb budget deficit at 1.7%

MOSCOW, Mar 13 (PRIME) -- Russia’s budget deficit amounted to 1.7% of gross domestic product (GDP), or 272.183 billion rubles in January–February, the Finance Ministry said in a statement late on Thursday quoting preliminary estimates.

Budget revenue amounted to 2.818 trillion rubles in the period, or about 13.8% of the planned annual figure, while spending amounted to 3.09 trillion rubles, or 15.2% of the planned annual figure under the amended budget.

Oil and gas revenue stood at 1.224 trillion rubles, or 16.4% of the planned amount, while non-oil and gas revenue reached 1.594 trillion rubles, or 12.3% of the planned figure.

Tax collection stood at 1.808 trillion rubles, while customs collection amounted to 722.538 billion rubles, and transfers from the other federal authorities reached 287.259 billion rubles.

The ministry also reduced budget deficit estimate for January to 0.9% of GDP or to 67.823 billion rubles from 2% of GDP or 159.9 billion rubles calculated in February.

(74.0274 rubles – U.S. $1)

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