Russia's federal budget deficit may hit $96 bln in 2010

Russia's 2010 federal budget deficit could be 3 trillion rubles (96 billion), one third of which is to be bridged by borrowing, a source close to the Finance Ministry said on Friday.

MOSCOW, July 24 (RIA Novosti) - Russia's 2010 federal budget deficit could be 3 trillion rubles (96 billion), one third of which is to be bridged by borrowing, a source close to the Finance Ministry said on Friday.

A government commission is to consider the preliminary parameters of next year's budget on July 27.

The source said 2010 budget revenues were projected at 6.5 trillion rubles and expenditures at 9.5 trillion.

"This creates a deficit of 3 trillion rubles, 1.6 trillion of which could be covered from the reserve fund and another part from the national welfare fund. The Finance Ministry hopes to bridge the remaining 1 trillion rubles through domestic and foreign debt," he said.