Russia Reduces Domestic Borrowing Plan Seeing Budget Surplus
This article is for subscribers only.
Russia reduced its 2014 domestic borrowing plan by 46 percent as the world’s largest energy exporter expects to run a fiscal surplus, Finance Minister Anton Siluanov said.
The government lowered the fundraising target to 435 billion rubles ($12.6 billion) from about 800 billion rubles, Siluanov told reporters in Moscow today. The ministry projects a budget surplus of 0.5 percent of gross domestic product compared with an initially planned deficit of 0.7 percent, he said.