MOSCOW, August 12 (RIA Novosti) - Russia's budget deficit totaled an estimated 923.82 billion rubles ($28.9 billion) or 4.3% of the country's GDP in January-July 2009, the Finance Ministry said on Wednesday.
A total of 1.62 trillion rubles ($50.5 billion) was spent from the Reserve Fund in the reporting period to balance the federal budget, the ministry said.
Russia's Reserve Fund, which was set up to cushion the federal budget against a fall in oil prices, is expected to fall to 1.55 trillion rubles ($48 billion) by the yearend and run out in 2010.
Finance Minister Alexei Kudrin earlier said that Russia's budget deficit may rise to 9.2-9.3% of GDP in 2009.