Russian government approves draft budget for 2018-2020

The Russian government approved a draft federal budget for a three-year period of 2018-2020, Finance Minister Anton Siluanov said after a government meeting.

"Yes, everyone approved it," he said.

It was reported earlier that according to the draft law, the forecasted deficit of the federal budget in 2018 will reach 1.33 trillion rubles ($23.07 bln) with income of 15.18 trillion rubles ($263.28 bln) and expenditures of 16.51 trillion rubles ($286.35 bln).

At the same time, the budget deficit in 2019 is expected to amount to 867.01 bln rubles ($15.04 bln), and in 2020 - 960.32 bln rubles ($16.65 bln), the draft law said.

Total revenues of the federal budget in 2019 and 2020 will reach 15.55 trillion rubles ($269.54 bln) and 16.28 trillion rubles ($282.19 bln), expenditures - 16.42 trillion rubles ($284.62 bln) and 17.24 trillion rubles ($298.83 bln), respectively.