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Russia´s Budget Deficit Higher than Expected
This year, Russia will record a budget deficit of 0.25% of GDP.
Russia´s Budget Deficit Higher than Expected / Picture: © Vindobona.org
Initially, Russia´s Ministry of Economics anticipated a budget deficit of 0.07%. According to Russia´s Ministry of Finance, the deficit will be substantially lower. This year, public revenues will reach 20.9% of GDP. The expected expenses will come at 21.2% of GDP.
This year, Russia´s economy is expected to grow by 3.5%. In the last months, a significant slowdown could be…
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