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Budget Costs to Be Exceeded by 47bn Rubles
The actual costs of 2007 Federal Budget will surpass the initial target by 47 billion rubles, Russia’s Vice Premier, Finance Minister Alexei Kudrin told the State Duma today, when reporting on budget amendments.
With regard to the amendments, Kudrin said, this year’s spending will grow by 1,067.9 billion rubles. Of them, 470 billion rubles will be deferred to 2008, including 150 billion rubles designated for the Investment Fund to be spent in 2008 and in the following years, as well as 320 billion rubles appropriated for medicaments provision, execution of federal target programs and for a portion of pension payments. Of overall costs, 550 billion rubles are the asset contributions to development institutions, which won’t be spent in 2007 either.
So, all amendments notwithstanding, the initial target for this year’s spending will be surpassed just by 47 billion rubles, which will ensure “the smooth usage of budget funds, and they won’t be concentrated in this December,” Kudrin explained.
Earlier today, the State Duma passed in three readings the bill on adjusted basic parameters of 2007 Federal Budget elaborated by results of nine-month budget execution. This year’s revenues are forecasted at 7,443,923.4 million rubles, 6.9 percent above the previously approved revenues.
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