Russia's federal budget deficit totaled 4.1 trillion rubles ($55.7 billion) or 3.8 percent of the GDP in 2020, which is better than expected, finance minister Anton Siluanov said on Thursday
MOSCOW (Pakistan Point News / Sputnik - 21st January, 2021) Russia's Federal budget deficit totaled 4.1 trillion rubles ($55.7 billion) or 3.8 percent of the GDP in 2020, which is better than expected, finance minister Anton Siluanov said on Thursday.
Siluanov said in mid-September that the budget deficit was expected to reach 4.4 percent of the GDP. In December, the minister revised his forecast upwards to 3.9 percent of the GDP.
"In 2020, the federal budget was executed with a deficit of 4.1 trillion rubles, which amounts to 3.8 percent of the GDP. Actual execution turned out to be better than it was expected. This result was primarily achieved thanks to a more dynamic flow of non-oil and gas revenues," Siluanov told reporters.
