Russian budget deficit for 2012 0.1% of GDP - budget bill
MOSCOW. April 24 (Interfax) - Russia's federal budget deficit for this year will be 68.144 billion rubles versus the 876.6 billion-ruble deficit planned earlier for this year, as per Finance Ministry amendments intended for 2012 budget law and for the planning period 2013-2014.
A draft of the amendments has been posted on the ministry's website.
Projected 2012 GDP is increased from 58.683 trillion rubles to 60.590 trillion rubles. Thus, the budget deficit for this year will be 0.1% of GDP compared with the 1.5% projected previously.
Federal budget revenues would, if the amendments are adopted, increase to 12.678 trillion rubles from 11.780 trillion rubles. Expenditures would grow to 12.745 trillion rubles from 12.656 trillion rubles.
The Finance Ministry proposes lowering the domestic state debt cap as of January 1, 2013 to 5.462 trillion rubles from 6.331 trillion rubles, while the foreign state debt limit is increased to $56.5 billion (or EUR 41.9 billion) from $48.4 billion (EUR 34.6 billion).
In addition, the draft foresees increasing the upper limit of foreign debt under state guarantee in forex to $16.5 billion as of January 1, 2013, or 1.2 billion euro, from $8.3 billion, or 5.9 billion euro.
The draft also foresees allowing oil and gas revenue, over 5.553 trillion rubles received during the budget's implementation in 2012 (5.0626 trillion rubles under the current version of the budget law), which would be used for substituting Russia's state borrowing or revenue received from the sale of stakes and other interests in capital owned by the Russian Federation.