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. Last Updated: 07/27/2016

Tax Revenues Grow

MOSCOW -- The Tax Ministry aims to collect 60 billion rubles ($2.12 billion) in May, 50 percent over target and up from 55 billion in April, Alexander Pochinok, the former tax minister, said Friday.

"We are ahead of our April rate by 4 billion rubles, so we will get 60 billion rubles," Pochinok, who Thursday was appointed labor minister in President Vladimir Putin's new government, told Ekho Moskvy radio.

Pochinok said the ministry would meet its half-year target by the end of May.

He did not name a planned figure for the six months but said the May target was 40 billion rubles. The ministry has been exceeding its monthly targets this year.

"If we simply maintain this trend, by the end of the year, we'll have 580 billion rubles," Pochinok said.

The 2000 budget target for tax collection is 390 billion rubles, he added.