MOSCOW, September 3 (RIA Novosti) - Russia's budget deficit amounted to 5.9% of GDP in the first eight months of the year, Finance Minister Alexei Kudrin said on Thursday.
"Revenue totaled 4.147 trillion rubles [about $130 billion] and expenditure 5.607 trillion rubles [$176 billion], the deficit was 5.9% of GDP," Kudrin said.
Russia's budget deficit may amount to 7.8% of GDP this year, excluding spending from the National Wealth Fund, Kudrin said.
Together with spending from the National Wealth Fund, the budget deficit will exceed 8% of GDP in 2009, the finance minister said.
The Finance Ministry earlier predicted Russia's budget deficit at 8.9% in 2009, taking into account all spending.
The Finance Ministry does not plan to change its $17.8 billion target for foreign borrowings in 2010, Kudrin said.
"Now, according to a preliminary plan, we'll borrow $17.8 billion and all these funds will be raised on the market," Kudrin said.
The finance minister said that Russia's borrowing volumes for next year could be adjusted, if the macroeconomic situation in the country changed for the better.
