The deficit has narrowed due to rising state revenues, the finance minister has said Russia’s budget deficit has narrowed and will be significantly lower than previous government expectations as energy revenues and the broader economy have recovered despite pressure from Western sanctions, Russian Finance Minister Anton Siluanov revealed on Wednesday. According to the latest estimates, the budget gap will total 1% of gross domestic product (GDP) this year, significantly lower than earlier projections, which would have seen the deficit reach 2.9 trillion rubles ($32.8 billion) or 2% of GDP. Federal revenues have
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