18 Apr 2011 10:28

Russia could have balanced 2012 budget at 4120 oil -Kudrin

WASHINGTON. April 18 (Interfax) - Russia could have a balanced budget in 2012 if Urals crude averages at $120 a barrel, Deputy Prime Minister Alexei Kudrin, who is also the country's finance minister, told reporters in Washington.

"There'll be a zero deficit next year of oil trades at $120, taking into account the decisions we have reached on defense spending, insurance contributions. This is my estimate for now. Work on the budget is not yet over," Kudrin said.