Siluanov added, in an interview with state television, that spending and revenues exceeded expectations, but the balance between them remained as expected.
He continued that with regard to gross domestic product, the budget deficit was expected to reach two percent, but it is currently lower after the Russian economy grew faster than estimates.
Additional revenues came from items such as an exceptional tax on large companies, which alone generated 315 billion rubles ($3.44 billion) in revenue for the budget.
With the exception of Sberbank…privatization of Russian banks
On the other hand, Russian Finance Minister Anton Siluanov said that the Russian government proposes to reduce its stakes in banks in which the state owns more than a controlling stake, with the exception of Sberbank, the largest bank in the country.
The government owns 50 percent plus one share in Sberbank, and reducing its stake would mean losing control.
Russian Finance Minister Anton Siluanov said this month that the government may reduce its stake in some major companies while retaining a controlling stake, adding that about 30 companies have been listed for possible privatization.
Siluanov said at the time, “The Ministry of Finance presented proposals to the government related to large companies in which the state’s share exceeds 50 percent, and proposed reducing the share without giving up a controlling stake.”
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