12 Jul 2010 19:15

Russian budget deficit could be cut to 5% of GDP, perhaps lower

MOSCOW. July 12 (Interfax) - Russia's budget deficit could be reduced to 5% of GDP this year, and perhaps even further, Prime Minister Vladimir Putin said at a budget policy meeting for 2011-2013 on Monday.

"We planned the budget deficit to be within 6.8% of GDP, but overall economic revitalization and the receipt of additional revenues allow us to cut the deficit to a level of around 5% of GDP. I think it could be even less," Putin said.

The budget deficit in 2011 should be less than 4% of GDP, and no more than 2.9% in 2013, he said.