Russian Fin Min puts 3.66% budget deficit in 2016 draft

MOSCOW, Oct 3 (PRIME) -- The Russian Finance Ministry has prepared a draft 2016 budget with a deficit amounting to 3.034 trillion rubles, or 3.66% of the gross domestic product (GDP), according to a release on the Web site for legal information seen by PRIME on Monday.

Nominal spending was increased by 304 billion rubles to 16.403 trillion rubles and revenue was cut by 370 billion rubles to 13.369 trillion rubles.

The Finance Ministry worsened its budget deficit outlook on September 30 to 3.5–3.7% of GDP from 3% of GDP.

(63.3960 rubles – U.S. $1)

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