13 Oct 2011 16:44

Regional budget surplus in Russia almost doubles

MOSCOW. Oct 13 (Interfax) - The regional budget surplus in Russia is currently 800 billion rubles, or 80% higher than a year ago, Anton Siluanov, the acting finance minister, said at a government meeting.

Regional budget revenue has gone up 18% or 670 billion rubles, and spending has risen 11% or by 500 billion rubles.

Investment spending by the regions has gone up 18% to 605 billion rubles. "Investment activity in the regions is recovering gradually," Siluanov said.

Siluanov said 10 regions had debt above critical levels.