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RF finance ministry forecasts 2012 budgetary deficit at over 142 billion roubles

September 06, 2012, 15:15 UTC+3
Finance Minister Anton Siluanov worried over the current high level of oil and gas deficit
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MOSCOW, September 6 (Itar-Tass) —— Russia’s finance ministry forecasts a budgetary deficit of 142.8 billion roubles, or 0.2 percent of the GDP, in 2012, Finance Minister Anton Siluanov said on Thursday.

“We expect 2012 budgetary incomes of 12.675 trillion roubles, or practically what was fixed in the latest update of the law on the budget (the law was updated in June 2012),” he told a government session. Spending in 2012 is expected to reach 12.870 trillion roubles. “Currently, the budget deficit is forecasted at 142.8 billion roubles, or 0.2 percent of the country’s GDP in the current year,” he noted.

“Generally, it is within the updated budgetary parameters we passed on June 5, 2012,” Siluanov stressed.

At the same time, the finance ministry id worried over the current high level of oil and gas deficit which is forecasted to reach 10.7 percent of the GDP in 2012, or much higher than in 2011.

Under the amendments to the law on the federal budget of May 2012, the budgetary deficit was fixed at 0.1 percent of the GDP in 2012, at 1.5 percent of the GDP in 2013, at 0.6 percent of the GDP in 2014, and at 0.1 percent of the GDP in 2015

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