9 Dec 2010 16:51

Russia's federal budget deficit for 2010 estimated at 4.6% of GDP, 4% in 2011 - IMF Mission

MOSCOW. Dec 9 (Interfax) - The deficit in Russia's federal budget for 2010 will come to 4.6% of the country's gross domestic product (GDP) whereas this figure will likely slip to 4% in 2011, Juha Kahkonen, the head of the International Monetary Fund's (IMF) mission to Russia, said on Thursday at a press conference at Interfax's central office in Moscow following the conclusion of the mission's consultations.

He said too much attention in Russia is being paid to the total deficit.

"More attention should be paid to the non-oil deficit, which, according to forecast, will come to 13% in 2010 in comparison with 4.7%, which is the long-term target figure," Kahkonen said.