The Cabinet approved changes to the Federal budget for 2018

The Russian government approved the draft amendment to revenue and expenditure of the Federal budget for 2018 and the planning period of 2019 and 2020, according to the website of the Cabinet.

«The bill provides for the increase in total income 1,815 trillion rubles, including due to the increase in oil and gas revenues in the amount of 1,755 trillion and non-oil revenues in the amount of 59,8 billion. At the same time according to GDP share of income increases by 1.7 per cent to 17.4 per cent of GDP», — stated in the message.

Total expenditure increased by 61,9 billion rubles and will reach in 2018 16,591 trillion rubles, or 16.9 percent of GDP.

The Federal budget deficit in 2018 (without changes to the consolidated budget breakdown) will be replaced by a surplus, which will be 481,8 billion rubles, or 0.5% of GDP.

In addition, the Cabinet of Ministers considered and approved the report on execution of the Federal budget for 2017 and sent it to the audit chamber of the Russian Federation.