Russian budget deficit 4.3 percent of GDP in first half: Finance minister

By: | Published: June 29, 2016 3:01 PM

Russia's federal budget deficit amounted to 4.3 percent of GDP in the first half of 2016, Finance Minister Anton Siluanov said on Wednesday.

Anton Siluanov, Anton Siluanov news, Anton Siluanov speech, russsian budget, russian budget news, russian budget updates, Anton Siluanov also said that the 2016 budget deficit was likely to be 420 billion roubles (.5 billion) more than envisaged in the budget, which had assumed an average Urals oil price of per barrel. (Reuters)

Russia’s federal budget deficit amounted to 4.3 percent of GDP in the first half of 2016, Finance Minister Anton Siluanov said on Wednesday.

Siluanov also said that the 2016 budget deficit was likely to be 420 billion roubles ($6.5 billion) more than envisaged in the budget, which had assumed an average Urals oil price of $50 per barrel.

“We see that the price of oil today is quite different, $37-38 per barrel since the beginning of the year, and according to the estimate for the year we expect around $40,” Siluanov told the upper house of parliament.

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