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Wednesday, February 19, 2020  Spokane, Washington  Est. May 19, 1883
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News >  Nation/World

Parliament Sends Yeltsin Austere Budget

By Compiled From Wire Services

Russia’s austere 1995 budget, aimed at reining in high inflation and meeting international lenders’ demands, passed its last legislative hurdle Wednesday with approval by parliament’s upper house.

The Federation Council vote, 99-24, sends the $51.3 billion budget to President Boris Yeltsin, who is expected to sign it into law this month.

Passage of the tight budget was a key element of the $6.4 billion loan deal reached last week with the International Monetary Fund.

Revenues are projected at $36.2 billion - meaning a deficit of $15.1 billion.

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