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Non-oil-and-gas deficit of Russian federal budget declines to 7.9% of GDP in 2017

It drops from 9.1% in 2016

Russian Finance Minister Anton Siluanov Anna Isakova/TASS

Russian Finance Minister Anton Siluanov

© Anna Isakova/TASS

MOSCOW, January 10. /TASS/. Non-oil-and-gas deficit of the federal budget declined to 7.9% OF GDP in 2017, Russian Finance Minister Anton Siluanov told reporters on Wednesday.

"Non-oil-and-gas deficit of the federal budget drops to 7.9% of GDP (from 9.1% in 2016), while the oil price supporting the federal budget balance at the primary level declined to $60 per barrel from more than $100 per barrel in 2013-2014," Siluanov said.

Brent oil futures with delivery in March 2018 are currently traded at $68.99 a barrel on the London-based ICE.

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