Putin Sees Russian Budget Deficit at 0.7% of GDP in 2014
By Anton Doroshev -
2011-09-21T13:53:46Z
Russia will have no budget deficit this year and will see a shortfall equivalent to 0.7 percent of gross domestic product in 2014, Prime Minister Vladimir Putin said at a government meeting in Moscow today.
Revenue from outside the oil and gas industry will rise to 57 percent of the total in 2014 from 53 percent now, he said.
The government will keep expenditures capped at 20 percent to 21 percent of GDP from 2012 to 2014, he said. Next year’s budget is based on an average oil price of $100 a barrel, he said.
To contact the reporter on this story: Anton Doroshev in Moscow at adoroshev@bloomberg.net
To contact the editor responsible for this story: Alex Nicholson at anicholson6@bloomberg.net
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