The revenues to the federal budget reached RUR580.9bn ($18.9bn), and the expenditures were RUR580.1bn ($18.88bn) in the first quarter of 2003, the Finance Ministry's materials, prepared for a government meeting to be held on May 29, read. The federal budget surplus amounted to RUR0.8bn ($26.04m) over that period, which is equal to 0.03 percent of the GDP. The sum of the financial reserve reached RUR232bn ($7.55bn) as of April 1, 2003. The tax revenues to the budget amounted to RUR462.3bn ($15.05bn). Therefore, the forecast for tax collection was exceeded by RUR32.8bn ($1.07bn). The sum of non-tax revenues reached RUR36.5bn (RUR1.19bn).
According to information from the Finance Ministry, RUR83.3bn ($2.71bn) were allocated for servicing the state debt in the first quarter of 2003. Russia's debt decreased by RUR88.9bn ($2.89bn) over that period. It was RUR4.47 trillion ($145.51bn) as of April 1. Of that amount, foreign debts made up 84.4 percent, and internal debts made up 15.6 percent.
The Chinese military believe that Beijing and Moscow must resist pressure from Washington together