Russia Fin Min suggests cutting budget spending in 2016 vs 3-year plan

September 16, 2015 2:43 PM

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MOSCOW, Sept 16 Russia's Finance Ministry suggests cutting budget expenditure in 2016 by 650 billion roubles ($9.9 billion) compared with what was previously estimated for next year as part of a three-year budget plan, Minister Anton Siluanov said on Wednesday.

Siluanov added that if the government agreed with the ministry's proposal then the budget deficit next year would be at 2.8-2.9 percent of gross domestic product (GDP). If not, the deficit would exceed 3 percent of GDP, he said.

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