State Budget Deficit Reduces to USD 752 mln in 2006

The state budget deficit of USD 752 mln (0.8% of GDP) at the end of 2006 was reduced from USD 1.58 bln in 2005, when it was 1.9% of GDP, according to Economy Minister Vladimir Makukha. State budget revenues were 0.4% more than planned and expenditures came in at 94% of the expected annual amount. According to him, the state compensated for a shortage in tax revenues from other sources. Makukha confirmed the preliminary 2006 GDP growth figure of 7% and said that the State Statistics Committee will publish the final numbers in February.