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They Amend Budget to Fund Putin´s Initiative

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Russia approved amendments to the federal budget.

Russia approved amendments to the federal budget.

MOSCOW, Russia. – The Russian Government approved amendments to the 2020-2022 federal budget to finance measures outlined by President Vladimir Putin in his message to the Federal Assembly.

The corrections seek to keep the budget surplus at 0.8% of the Gross Domestic Product this year, Finance Minister Anton Siluanov said.

The increase in revenue will be provided by increased revenue collection of non-oil and gas resources, increased tax and customs payments, and dividends from state-owned enterprises, the official said.

Putin announced that Russia will begin a new cycle to achieve annual investment growth of 5 to 7 percent, with all the factors to provide macroeconomic stability, and reducing economic vulnerability to external impact.

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