Despite 2002 tax burden relief, Russian Federal Budget remaines profitable

Despite the 2002 tax burden relief, the Russian Federal Budget revenue has not dropped compared to the 2001 figures, Russian Prime Minister Mikhail Kasyanov said on Thursday.

In his opening speech at a Cabinet meeting on reviewing the results of meeting the 2002 first nine months' budget, Kasyanov noted that the budget had been met with a 20% GDP gain, the same as last year.

According to the Prime Minister, "the income is stable, despite cuts in the number of taxes and overall tax burden." Kasyanov added that the 2002 first nine months' profit was 140 billion rubles (almost $4.4 billion) or 1.8% GDP, "twice the Government's target."