Russian president approves 3-year budget

Russian President Dmitry Medvedev approved on Thursday the 2012-2014 budget drawn up by former finance minister Alexei Kudrin. The budget deficit is set at 1.5 percent of gross domestic product in 2012, 1.6 percent of GDP in 2013 and 0.7 percent of GDP in 2014. The document is based on the price of Urals oil […]