ST. PETERSBURG, June 6 (RIA Novosti) - Reviewing Russia's 2009 federal budget would be irresponsible despite oil price growth, and budget policy should remain conservative, a first deputy prime minister said Saturday.
"We should behave very conservatively, and it would be irresponsible on our side to review anything," Igor Shuvalov told journalists at the St. Petersburg International Economic Forum, answering the question if the budget could be reviewed again in connection with rising oil prices that reached almost $70 per barrel.
The current budget, adjusted this spring with account for the financial crisis, proceeds from the forecasted average annual oil price of $41 per barrel.
For the first time in recent years, the budget envisions a deficit of 7.4-8% of GDP, but experts have said the budget deficit could even exceed 9% of GDP.
The adjusted budget revenues are confirmed at 6,713 billion rubles ($216.9 billion), and expenditures at 9,692 billion rubles ($313.2 billion).
