Ministry: Russia’s federal budget deficit at 3.3% of GDP Jan–Jun

MOSCOW, Aug 15 (PRIME) -- Russia’s federal budget deficit amounted to 1.521 trillion rubles in January–July, or 3.3% of the country’s gross domestic product (GDP), the Finance Ministry said in a statement on Monday providing preliminary estimates.

Budget revenue stood at 6.967 trillion rubles, or 50.7% of the amount envisaged by the budget for 2016, and spending amounted to 8.488 trillion rubles, or 52.7% of the planned amount for the year.

Primary deficit amounted to 1.187 trillion rubles, or 2.6% of GDP.

The Federal Tax Service contributed 3.903 trillion rubles to the federal budget in the period, while the Federal Customs Service collected 2.332 trillion rubles for the budget. Other federal agencies and authorities contributed 732.15 billion rubles.

Earlier the Federal Treasury estimated Russia’s budget deficit for January–July at 1.518 trillion rubles.

(64.3364 rubles – U.S. $1)

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