Russian Duma passes bill on execution of 2014 federal budget
MOSCOW. Sept 21 (Interfax) - The State Duma passed a bill on Friday on the execution of Russia's 2014 federal budget with a deficit of 334.7 billion rubles, or 0.5% of GDP.
Revenues totalled 14.497 trillion rubles and expenditures amounted to 14.832 trillion rubles.
"Budget revenues last year were affected by the significant decrease in oil prices; we received 355 billion rubles less than the approved parameters due to this factor, lost 118 billion rubles due to the decrease in imports and 90 billion rubles due to the decrease in export prices for gas. But all this was offset by the change in currency exchange rate, which enabled us to ensure generation of revenues in accordance with plans," Finance Minister Anton Siluanov said at the Duma session.
"If not for large-scale support for the banking sector, we would have had a budget surplus of 0.9% last year," Siluanov said.