Russia budget deficit in 2013 worth $9.2bn

Russia ran a budget deficit in 2013 of $9.2 billion, the Russian Finance Ministry said TuesdayThe ministry’s reports said that the figure amounts to between 0.5-0.9% of Russia’s GDP. The smaller revenues were in part due to slower economic growth made last year, this is despite the budget surplus that Russia managed to make since the turn of the century due to the increase in oil prices. Based on the budget signed last year by Russian President Vladimir Putin, Russia will record a budget defeicit of $12 billion this year and of $25 billion in 2015.Russia’s total income last year was $386 billion, the Finance Ministry said.