The Russian government is expected to analyze economic development scenarios for 2011-2013 at its June 3 session, Economic Development Minister Elvira Nabiullina said on Saturday.
"On Tuesday we will submit [the scenarios] to the government and they are due to be considered at a cabinet meeting on June 3," she said.
Finance Minister Alexei Kudrin said in mid-May the 2010 deficit would be 5.2-5.4% and that the budget would be balanced with an average oil price of $95 per barrel.
The budget deficit in 2011 is expected at 4% of GDP with an oil price of $70 per barrel and 8% of GDP at $50.
This year, Russia will see its first budget deficit in nine years as a result of the world financial crisis and a drop in the oil price.
Russia, which continues to rely on raw material exports as its principal source of budget revenue, was badly affected by the 2008 global economic crisis, but a quicker-than-expected recovery of oil prices has eased pressure on the federal budget.
TYUMEN, May 29 (RIA Novosti)