Video PlayerClose

MOSCOW, Sept. 20 (Xinhua) -- The Russian government approved Thursday a draft of the country's federal budget for the next three years, expecting a surplus during the period.

"The surplus of the Russian budget in 2019 will be 1.8 percent of GDP, and the budget will be in surplus in the next three-year period," said First Deputy Prime Minister and Finance Minister Anton Siluanov.

The Russian Economic Development Ministry said earlier this month it expects the country's budget this year to be in a surplus of around 1 percent of gross domestic product (GDP).

Russia's budget surplus is planned at 1.8 percent of GDP in 2019, 1.1 percent of GDP in 2020 and 0.8 percent of GDP in 2021, according to the draft quoted by Russian news agencies.

The budget has to pass three readings in the Russian State Duma, the lower parliament house, then be endorsed by the Federation Council upper parliament house before being signed into law by Russian President Vladimir Putin.