Russian federal budget executed with surplus in the first six months

The Russian federal budget was executed with a surplus of 1.3 percent of the GDP in the first six months of 2003, reported prime minister Mikhail Kasyanov when opening the routine session of the government.

"When assessing the budget for the first six months, it is important to note that despite many innovations introduced in the tax sphere on January 1 and several shortcomings because of this the budget was stable and executed with a surplus of 1.3 percent of the GDP," Kasyanov said.

"It is an important indicator for our economy," he stressed.

"I believe that the budget will be also executed normally in the second half of the year," the prime minister concluded.