The Finance Ministry might increase its federal budget deficit forecast for 2014 by 650 billion rubles ($20.8 billion) due to lower budget revenues, Finance Minister Anton Siluanov said Wednesday, Interfax reported.
"The forecast for 2014-2016 indicates lower budget revenues, because economic growth and the volume of imports are being revised downward, while the ruble's exchange rate is stronger than in the initial forecast," Siluanov said.
The Finance Ministry will present its new budget plan for 2014-2016 in June.
Siluanov also said he did not expect rating agencies to revise Russia's sovereign rating.
First, meetings will be held between the agencies and ministry officials, then it will become clear if changes may follow, he said.
Deputy Finance Minister Sergei Storchak said earlier that representatives of one of the world's three leading rating agencies had arrived in Russia for consultations.
(MT)
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
