Russia posts budget deficit of 4.9% of GDP in Jan.-Nov.

Russia's budget deficit rose to 4.9% of GDP in January-November 2009 from 4.7% in September-October, the Finance Ministry reported on Wednesday.

Russia's budget deficit rose to 4.9% of GDP in January-November 2009 from 4.7% in September-October, the Finance Ministry reported on Wednesday.

The federal budget deficit was estimated at 7.9% in November 2009, the ministry said.

Federal budget revenues equaled an estimated 6,446 billion rubles ($215 billion) or 90% of the budget revenue figure for the year, while expenditures stood at about 8,202 billion rubles ($273 billion) or 82.6% of the adjusted budget spending plan in 2009, the ministry said.

The 2010 budget will run a deficit of 6.8% of GDP. It should fall to 4% of GDP in 2011 and 3% in 2012.

Budget revenues are defined at 6,950 billion rubles ($238 billion), and expenditure at 9,886 billion rubles ($338 billion) in 2010.

The key budget parameters were calculated proceeding from the average annual price for Urals crude at $58 per barrel in 2010, $59 per barrel in 2011 and $60 per barrel in 2012.

Under the 2010 budget and basic budget parameters for 2011-2012, Russia's GDP is expected to grow 1.6% in 2010, 3.0% in 2011 and 4.3% in 2012.

MOSCOW, December 9 (RIA Novosti)