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Russian budget reaches highest resistance to oil price volatility in 2017

June 09, 14:04 UTC+3 MOSCOW
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MOSCOW, June 9. /TASS/. Russia’s budget has reached the highest level of resistance to the oil price volatility and international environment over the past nine years in 2017, Finance Minister Anton Siluanov said Friday.

"We see the so-called non-oil and gas budget deficit going down, which demonstrates the resistance of the budget to various fluctuations related to international environment," he said.

According to Siluanov, the share of non-oil and gas deficit is going to drop 0.6 percentage points to 8.4% of GDP, the lowest level over the past nine years.

The Minister added that the share of oil and gas revenues will be slightly lower in 2017 compared with previous years - around 40% of all federal budget revenues.

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