Russian government approves 2012-14 draft budget

The Russian cabinet on Wednesday approved a draft federal budget for 2012-14, Deputy Finance Minister Tatyana Nesterenko said. The 2012 budget deficit will be 869.2 billion rubles, or 1.5% of GDP, 1.6% in 2013 and then down to 0.7% in 2014. Federal budget revenues in 2012 are projected at 11.789 trillion rubles and expenditures at […]