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Finance ministry to revise 2012 budget’s deficit forecast

Earlier reports said after nine months of the current year the federal budget’s surplus was 1.4 percent of the GDP

MOSCOW, October 15 (Itar-Tass) —— Russia’s Finance Ministry will revise the parameters of the budget for 2012, including the forecast on the budget deficit.

The ministry plans to lower the budget deficit’s forecast from 0.2 percent to nil, Minister Anton Siluanov said.

Speaking about addendums to the current year’s budget, the minister said the revenues of the Bank of Russia would be added to it. They will include revenues from privatisation of Sberbank and dividends of Rosneftegaz.

“This is a major resource for re-distribution: 148 billion roubles plus about 50 billion, plus saving in certain items of the current year’s budget will be redirected, too,” he said.

Earlier reports said after nine months of the current year the federal budget’s surplus was 1.4 percent of the GDP.