"Russia's Ministry of Finance estimates that [the budget deficit] would be up to 3.7 percent of GDP. It is the minimum level, in my view, it could be exceeded," Kudrin told reporters on the sidelines of the International Investment Forum in Sochi.
On Friday, Russian Finance Minister Anton Siluanov said that the Ministry of Finance had prepared draft amendments to the federal budget of 2016, according to which the deficit could reach 3.5-3.7 percent of GDP. Initially, the Russian authorities hoped to limit budget deficit in the current year to 3 percent of GDP.
The International Investment Forum, which is a platform for presenting Russia’s economic and investment potential, is held on September 29 – October 2 in Russia's southern resort city of Sochi.
