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Russia may have deficit-free budget in 2012

October 17, 2011, 13:44 UTC+3
It may be possible in case oil prices exceed forecasted levels, said Russian Prime Minister
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MOSCOW, October 17 (Itar-Tass) — Russia may have a deficit-free budget in 2012 in case oil prices exceed forecasted levels, Russian Prime Minister Vladimir Putin said on Monday.

“If the oil price goes up, there will be no deficit next year,” he said at a meeting of the consultative council on foreign investments.

According to the prime minister, thanks to extra proceeds the country’s budget for 2011 is also expected to be zero-deficit.

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