Duma passes amendments to 2003 budget

The State Duma approved amendments to the 2003 budget submitted by the government. The amendments envisage increasing budget spending by RUR68.7bn (about $2.28bn) to RUR2.414 trillion ($80.27bn). Under the amended law, in 2003 the budget revenues are set at 2.562 trillion ($85.19bn), which is RUR144.8bn ($4.82bn) higher than the earlier approved figure. Collected taxes would total RUR2.12 trillion ($70.49bn) and non-tax revenues to the budget would come to RUR170.6bn ($5.67bn).

The budget's surplus is set at RUR148.3bn ($4.93bn), up RUR76.1bn ($2.53bn) against the earlier approved figure.

Among the articles of spending increased in 2003 were defense, law enforcement and the implementation of projects under the 2003 state program of foreign loans.