IMF Predicts Surplus for Russian Federal Budget in 2014

MOSCOW, April 30 (RIA Novosti) – The International Monetary Fund (IMF) forecasts a surplus for Russian federal budget, amounting to 0.34 % of GDP in 2014, IMF advisor Antonio Spilimbergo said at the press conference of IMF’s European Department Wednesday.

“This year we expect a budget surplus at the federal level of 0.3 % compared with a deficit last year,” Spilimbergo said.

In February Russian Finance Minister Anton Siluanov said the budget in 2014 is expected to be balanced, with an approved federal budget deficit of 0.5 % of GDP. As of 2013 the federal budget deficit stood at 0.5% of GDP.