The Russian government can meet the budget deficit of 3% of GDP (a target for 2016) if a number of conditions is met, Russian Economic Development Minister Alexey Ulyukayev told reporters at a briefing at the forum of ASEAN, Tass reports.
"With the oil price of $40 [per barrel] it [budget deficit this year] would be about 4%. To meet 3% is possible in case the privatization of Rosneft and if Rosneftegas pays interim dividends," Ulyukayev said.
Russian President Vladimir Putin said earlier that budget deficit in 2016 should not exceed 3% of Russia’s GDP. According to the Finance Minister Anton Siluanov, the Ministry will reach budget deficit of 3.3% at the average price of Urals oil at $40 per barrel.
