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Russia's 2010 budget deficit lower than expected

English.news.cn   2010-12-29 21:46:50 FeedbackPrintRSS

MOSCOW, Dec. 29 (Xinhua) -- Russia's 2010 budget deficit amounted to 4.2 percent of the gross domestic product (GDP), considerably lower than the initial forecast of 5.3 percent, official figures showed Wednesday.

Financial Minister Alexei Kudrin attributed the better-than-expected figures to the extra government income near the end of the year, and oil prices that exceeded forecasts.

"The revenues keep arriving but the government has no time to spend these funds," Kudrin said. He added that the budget had received an extra225 billion rubles (about 7.4 billion U.S. dollars).

Meanwhile, the Economic Development Ministry has published an even lower deficit of a maximum of 3.8 percent of GDP, the RBC news agency reported.

Editor: Wang Guanqun
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