Russian Lawmakers Pass 2017 Budget Amendment Lowering Deficit to 2.1% of GDP

Russia's lower house of parliament passed a 2017 budget amendment lowering the deficit to 2.1 percent of GDP on Wednesday.

MOSCOW (Sputnik) – The State Duma's vote on the bill in third reading decreases the projected budget deficit by 829 rubles ($13.8 billion) to 1.924 trillion rubles.

Projected spending under the amended budget has increased by 362 billion rubles to 16.603 trillion rubles, while revenue is expected to grow by 1.191 trillion rubles to 14.679 trillion rubles.

The projection is based on the expected nominal GDP of 92.19 trillion rubles.