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25 Apr 2020, 16:00

Russia’s Economy Ministry will present updated macro forecast by end of May

The minister added that the budget deficit for 2020 is estimated at 5-6%

MOSCOW, April 25. /TASS/. The Russian Ministry of Economic Development by the end of May will present an updated macroeconomic forecast, Economic Development Minister Maxim Reshetnikov said on Saturday.

"We are now looking at the situation in the oil market, at revenue evaluation. I think that by the end of May we will prepare estimates, present a public forecast. We are considering various options," he said in an interview with Rossiya 24 TV channel.

The minister added that the budget deficit for 2020 is estimated at 5-6%. He noted that it is too early to name the volume of domestic borrowing. "They will be feasible for our market, but they will be noticeable," Reshetnikov emphasized.