Install

Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Budget Targets Missed




MOSCOW -- The government failed to meet September budget targets, with the month's revenues only 88 percent of plan, while 79.2 percent of budgeted spending was carried out, the Finance Ministry said Tuesday.


Budget revenues were 47.5 billion rubles ($1.9 billion) or 11.3 percent of September's gross domestic product, while spending totaled 48.1 billion rubles, leaving a deficit of 600 million rubles.


August revenues were 48.3 billion rubles, 2.5 percent above plan, spending was 50 billion rubles, 7.4 percent below target, and the deficit was 1.74 billion rubles.


The ministry said national defense spending was 100 percent of budget.