Ministry: Russia’s federal budget deficit at 4.6% of GDP Jan–May

MOSCOW, Jun 14 (PRIME) -- Russia’s federal budget deficit amounted to 1.486 trillion rubles in January–May, or 4.6% of the country’s gross domestic product (GDP), the Finance Ministry said in a statement Tuesday providing preliminary estimates.

Budget revenue stood at 4.644 trillion rubles, or 33.8% of the amount envisaged by the budget for 2016, and spending amounted to 6.13 trillion rubles, or 38.1% of the planned amount for the year.

The Federal Tax Service contributed 2.601 trillion rubles to the federal budget in the period, while the Federal Customs Service collected 1.583 trillion rubles for the budget. Other federal agencies and authorities contributed 459.511 billion rubles.

In May, Russia’s federal budget deficit amounted to 350.4 billion rubles, or 5.5% of GDP, after a deficit of 497.1 billion rubles, or 7.3% of GDP, in April.

(64.7077 rubles – U.S. $1)

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