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Alexei Kudrin said Tuesday that Russia's budget deficit for the first half of the year would be 4.7% of GDP
The Finance Ministry said Tuesday that Russia's budget deficit for the first half of the year, excluding oil revenues, would be 4.7% of GDP. "For the first six months [of 2006], we forecast the non-oil budget deficit at 4.7% of the country's GDP," Finance Minister Alexei Kudrin told a conference on economic modernization and the state. Kudrin Monday again urged the government to determine the budget deficit with oil revenues removed and prevent further deficit growth. Prime Minister Mikhail Fradkov said Monday that a government budget commission supported the idea of a non-oil budget. Kudrin has repeatedly said that Russia should follow the example of Norway, which leaves windfall revenues from high oil prices out of budget calculations, but uses part of its oil income to cut non-oil budget deficits.
Print Alexei Kudrin said Tuesday that Russia's budget deficit for the first half of the year would be 4.7% of GDP Bookmark Alexei Kudrin said Tuesday that Russia's budget deficit for the first half of the year would be 4.7% of GDP

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