Russia's government board has approved draft amendments to the federal budget for 2008, as well as for 2009-2010, Russia's Deputy PM, Finance Minister Alexei Kudrin told journalists following today's board meeting. According to the bill, federal budget revenue is expected to amount to nearly RUB 8.966 trillion (approx. USD 378bn), or 21.23 percent of GDP, in 2008, some RUB 9.518 trillion (approx. USD 401bn), or 19.58 percent of GDP in 2009, and roughly RUB 10.402 trillion (approx. USD 438bn), or 18.68 percent of GDP, in 2010. Federal budget revenue from the sale of oil and gas is projected to reach RUB 4.249 trillion (approx. USD 178.98bn) in 2008, roughly RUB 3.64 trillion (approx. USD 153bn) in 2009, and nearly RUB 3.631 trillion (approx. USD 152.9bn) in 2010. This is respectively RUB 778.3bn (approx. USD 32.8bn), RUB 531.7bn (approx. USD 22.4bn), and RUB 639.9bn (approx. USD 27bn) higher than the figures in the current federal budget.
The bill also provides for an increase in federal budget spending by RUB 120.4bn (approx. USD 5.07bn), or 1.7 percent, in 2008, RUB 463.9bn (approx. USD 19.5bn), or 5.6 percent, in 2009, and RUB 632.7bn (approx. USD 26.7bn), or 7 percent, in 2010.