MOSCOW, Jan. 6 (UPI) -- Russia began the new year on a healthy footing with a budget surplus of 1.7 percent, the Novosti news agency reported Tuesday.
The news emerged following a meeting between President Vladimir Putin and Prime Minister Mikhail Kasyanov.
"The budget's planned incomes have been exceeded and amounted to 101 percent," Kasyanov said. Thus, the budget was fulfilled with a surplus of 1.7 percent of the GDP, he said.
After the results of the 2003 budget's fulfillment, a stabilization fund was set up with an initial sum of more than $3.3 billion, he said.
"The inflation rate equaled 12 percent, as was forecast," he added.
By the end of January, the cabinet will endorse a package of measures to fulfill the law on the 2004 federal budget, Kasyanov said.
