MOSCOW, September 28. /TASS/. This year’s target on oil and gas revenues will be surpassed, with expenditures financed without borrowings on the market, Finance Minister Anton Siluanov told reporters at the Moscow Financial Forum.

"This year we expect solid oil and gas revenues, with the target on oil and gas revenues to be surpassed. In this respect I think it is absolutely economically feasible that expenditures will be financed using oil and gas revenues, without using borrowings on the market," he said.

Earlier, Siluanov said that the ministry would reduce its program of borrowings for 2023 by around 1 trillion rubles ($10 bln).

"We <…> have decided to limit borrowings this year, to cut the program by around 1 trillion rubles," he said.

This year, the Moscow Financial Forum is headlined 'In Search for a New Balance: Russian Financial and Economic System during Worldwide Transformation.' The first Moscow Financial Forum took place on September 23, 2016, and since then experts traditionally meet every September to address the most pressing current issues and come up with effective solutions for Russia's economic base.

TASS is the forum’s general information agency.