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Russian budget may be executed with surplus by yearend

November 06, 2012, 5:39 UTC+3
“According to our estimates, the budget may have a surplus, but a final figure will be clear in late December,” the finance minister said
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MEXICO, November 6 (Itar-Tass) —— The Russian budget may be executed with a surplus by the yearend, but it will be finally clear only in late December, Russian Finance Minister Anton Siluanov told Russian reporters here on Monday. He was participating in a G-20 meeting at the level of the finance ministers and the heads of the central banks.

“According to our estimates, the budget may have a surplus, but a final figure will be clear in late December,” the finance minister said. “All depends from how we will end this year,” he said.

The minister noted that the surplus in the Russian budget reached 1.4% of GDP for eight months, but “it is still difficult” to say about a final figure this year. “All depends from how we will use those budget allocations, which our ministries and agencies have, how urgently they will be spent and whether the budget revenues will be transferred well until the end of this year,” Siluanov underlined.

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