Deficit of the federal budget has grown but is still at an acceptable level, Russian Prime Minister Dmitry Medvedev said on Thursday.
"We need to adjust the budget deficit that has somewhat increased on the whole but remains at an acceptable level," Medvedev said.
The Russian government will redistribute more than 1 trillion rubles ($16 bln) in the budget for the current year and these funds will be mainly spent on fulfillment of social obligations, the premier added:
"We will redistribute the money in favor of the most important areas. More than 1 trillion rubles will be redistributed - first of all, of course, they will be spent to fulfill our social obligations."
Medvedev has noted that the government intends to save at least 700 bln rubles ($11 bln) by the end of 2016 by reducing inefficient budget spending:
"We are working on reduction of inefficient budget expenditures. At the end of the year we expect to save about 700 bln rubles and even more."
First published by TASS.
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