The State Duma, Russia's lower chamber of parliament, passed a bill outlining the 2016 federal budget in its first reading on Friday, Russian media reported.
“Next year we will depend less on oil revenues,” Finance Minister Anton Siluanov was cited by the Interfax news agency as saying at the State Duma session. According to him, in 2016 revenues from exporting oil and gas will constitute only 7.7 percent of the country's gross output, while revenues from other sources will constitute 9.8 percent.
2016 incoming funds are estimated at 13.7 trillion rubles ($209 billion), while budget expenses are expected to mount up to 16.1 trillion rubles, Interfax reported. The budget deficit is predicted to be around 2.4 trillion rubles, the report said.
The second reading of the bill is scheduled for Dec. 2, while the third reading is set for Dec. 4.
… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.
We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.
Remind me later.
