The State Duma passed in its third reading a law on amending the budget for 2015 and the planned period of 2016-2017 at a meeting on Friday.
Under the amendments, the federal budget deficit will total 2.675 trillion rubles ($54.1 billion) or 3.7 percent of GDP in 2015 compared with a deficit of 430.7 billion rubles ($8.27 billion) or 0.6 percent of GDP in the current budget.
Budget revenue will amount to 12.54 trillion rubles ($240 billion) or 17.1 percent of GDP, including 5.687 trillion rubles ($109 billion) in oil and gas revenue and 6.853 trillion rubles ($131.7 billion) in non-oil and gas revenue.
Spending will total 15.215 trillion rubles ($292.3 billion) or 20.8 percent of GDP.
The current budget targets budget revenue at 15.082 trillion rubles and spending at 15.513 trillion rubles ($298 billion).
Inflation for the year, initially set at 5.5 percent, is now expected to total 12.2 percent.
GDP could fall by as much as 4.6 percent in 2015, says report
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