Ministry: Russia’s federal budget deficit at 4% of GDP Jan–Jun

MOSCOW, Jul 13 (PRIME) -- Russia’s federal budget deficit amounted to over 1.5 trillion rubles in January–June, or 4% of the country’s gross domestic product (GDP), the Finance Ministry said in a statement Wednesday providing preliminary estimates.

Budget revenue stood at 5.9 trillion rubles, or 42.7% of the amount envisaged by the budget for 2016, and spending amounted to 7.4 trillion rubles, or 45.9% of the planned amount for the year.

Primary deficit amounted to 3.1% of GDP.

Finance Minister Anton Siluanov said in late June that budget deficit stood at 4.3% of GDP in January–June.

The Federal Tax Service contributed 3.3 trillion rubles to the federal budget in the period, while the Federal Customs Service collected 2 trillion rubles for the budget. Other federal agencies and authorities contributed 623 billion rubles.

(63.9029 rubles – U.S. $1)

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