Putin Signs Amendments Bringing Russia's 2019 Budget Surplus Down To 1.7% Of GDP

MOSCOW (UrduPoint News / Sputnik - 18th July, 2019) Russian President Vladimir Putin signed amendments to the 2019 federal budget, reducing the budget surplus to 1.7 percent from 1.8 percent of the country's gross domestic product (GDP), according to a document was published on the official legal information portal on Thursday.

Budget revenues were increased by 205.6 billion rubles, to 20.17 trillion rubles ($320 billion), expenses were up 256.5 billion rubles, to 18.29 trillion rubles. The budget surplus was reduced by 50.9 billion rubles and will amount to 1.88 trillion rubles.

However, in relation to the GDP, revenues reduced to 18.5 percent from 18.9 percent and expenses to 16.

8 percent from 17 percent.

The amendments were prepared taking into account the forecast of social and economic development, as well as measures from the presidential address to the Federal Assembly, First Deputy Prime Minister and Finance Minister Anton Siluanov explained earlier.

The largest articles in the new budget expenses are the transport system (78.1 billion rubles), the development of the budgetary system (60.9 billion rubles), industry development and improving competitiveness (17.2 billion rubles), housing (15.5 billion rubles), healthcare (15.3 billion rubles), technological development (11.2 billion rubles), and defense (10.3 billion rubles).