Russia’s Finance Ministry to revise 2011 fedl budget deficit in Sep

MOSCOW, Aug 24 (PRIME) — Russias Finance Ministry plans to prepare amendments to the federal budget for 2011 and revise the projected budget deficit in September, Deputy Finance Minister Anton Siluanov told reporters late Tuesday.

Details concerning the revision were not specified.

In particular, the Finance Ministry has decided to prepare amendments to the budget as the Economic Development Ministry is currently working on a forecast of social and economic development for 20122014, while revising the 2011 forecast, Siluanov said.

Moreover, the budget expenses for 2011 are also to be revised as the Russian government has taken a number of decisions on financing this year, Siluanov added.

Siluanov also reiterated that the budget surplus amounted to 2.9% of the gross domestic product (GDP) in JanuaryJune.

In early June, Russian President Dmitry Medvedev signed into law amendments revising the budget deficit down to 1.3% of the GDP, from 3.6% of GDP previously.

Meanwhile, Presidential Aide Arkady Dvorkovich said in late June that the federal budget deficit is expected to amount to 1.5% of the GDP in 2011.

Russias federal budget deficit amounted to 3.9% of GDP in 2010 and 5.9% of GDP in 2009, Deputy Prime Minister and Finance Minister Alexei Kudrin said in February.


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