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

September 16, 2015 2:43 PM

29 0

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.

Also read: Key Obamacare premiums to jump 25 percent next year

Read more

To category page