Russia’s 2011 budget deficit to be ‘under 1% of GDP’

Russia’s federal budget deficit this year may be below 1 percent of GDP, Prime Minister Vladimir Putin said on Monday.

“The deficit will be 1.5-1 percent or maybe even less, under 1 percent,” he said.

The 2011 budget deficit projection was earlier reduced amid high global oil prices from 3.6 percent to 1.3 percent of GDP.

The task for 2012-14 is to achieve a deficit-free budget, Putin also said.

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