07 April 2004 19:50
Russian Finance Ministry points to increase in 2004 budget revenue
Moscow, 7 April: The Russian Finance Ministry has said that budget revenue increased in the first quarter of this
year and expenditure decreased. "Budget surplus in January-March amounted to R62.6bn, or 1.8 per cent, of
GDP," ITAR-TASS has learnt from the ministry's press service.
"The revenue in the first quarter increased by 7.8 per cent and amounted to R688.9bn," the source said.
"Expenditure of the state in this period was R626.3bn, which is almost 10 per cent below what was originally
planned," he said.
At the same time the Finance Ministry said that "this significant surplus can be explained, first and foremost,
by the failure to finance expenditure articles in full". "The financing of the industry, power engineering and
construction was at a level of 83.9 per cent of what was planned, assistance to low-level budgets at a level of 96 per
cent, and the servicing of the state and municipal debts at a level of 77.3 per cent," the source said. The Finance
Ministry explained this partial financing by "the failure of recipients of the money to submit payment documents in
time".
[ITAR-TASS news agency] |
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