Report: Auditor: Russia’s 2023–25 budget deficit may top forecast

MOSCOW, Nov 10 (PRIME) – Russia’s budget may overshoot the forecast, but the country has sufficient reserves to cover it, head of the Audit Chamber Alexei Kudrin told channel RT on Thursday.

"Yes, budget deficit may turn out to be higher than the forecasts due to some unpredicted events and, maybe, a more difficult situation with fuel exports,” Kudrin said.

“On the other hand, Russia has a sufficient margin of safety, first of all, in the reserves accumulated over the previous years, including from successful oil sales."

The State Duma earlier approved a draft budget for 2023–2025 in the first reading. Deficit was set at 2% of the gross domestic product (GDP) in 2023, 1.4% in 2024 and 0.7% in 2025.

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