2012 Budget at $435Bln, With Deficit Reduced to 2.7%

The latest proposal from the Finance Ministry calls for federal spending to increase 10.5 percent next year over this year’s amount, a senior government official said Wednesday. Next year’s budget, which the Cabinet will consider Thursday, foresees spending 12.2 trillion rubles ($435 billion), the official said on customary condition of anonymity for pre-Cabinet briefings. The Cabinet’s decision on spending, revenue and the deficit on Thursday will bring to a close […]