10 June 2004 10:53
Budget revenue increased in first quarter of 2004 - Russian PM
Moscow, 10 June: The federal budget revenue in the first quarter of 2004 has increased by 8 per cent compared to the
first three months of 2003, Russian Prime Minister Mikhail Fradkov said, opening the government session on Thursday.
"GNP growth in the first quarter of 2004 amounted to 8 per cent, the real earnings of the population have
increased by 13 per cent, as compared to the similar period in 2003, while the stabilization fund has increased by one
third and has amounted to more than R142bn [approximately 4.7 bn dollars]," he said.
" Not only high oil prices but decisions in the tax and budget policy, aimed at creating conditions to develop
economic competitiveness have had a positive impact on the growth of budgetary indicators," Fradkov added.
A reduction in the VAT tax from 20 to 18 per cent and the removal of the sales tax have contributed to the growth of
budgetary indicators, Fradkov said.
"This year we shall continue to work intensely on tax and budget reforms as stability in this policy is an
important factor of economic development", he added.
[RIA news agency] |
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