Aug 20. MinFin proposes lowering the transfer of oil export revenues to the federal budget from 5.5% of GDP to 4.9% of GDP in 2009, vice PM and finance minister Alexei Kudrin said. "We are confident that 5.5% of GDP is too big for oil export revenues to be wired to the federal budget. We reached the conclusion that this amount should be set at around 4.9% rather than at 5.5%" – he said. Kudrin pointed out that 4.9% was chosen on the basis of actual oil export revenues wired to the budget in 2008. He noted that in nominal terms the 2008 transfer was set at 6.1% of GDP, but, as GDP grew, the actual amount would be approximately 4.9% of GDP. The finance minister said that in nominal terms the amount of 2008 oil export revenues to be wired to be budget remains unchanged because of rising GDP, as revisions are not provided for by law. "We propose that the 2009 amount not be raised, but that it be kept at the current rate, thereby preventing federal spending from increasing" – Kudrin said.