Russia's Finance Ministry has raised its forecast of federal budget deficit for 2010 to 7.2% of GDP from 6.8%, Deputy Finance Minister Tatyana Nesterenko said on Friday.
She said the adjusted budget deficit was based on a forecast from the Economic Development Ministry as of December 15.
"[Budget] revenues are expected to fall by 38 billion rubles [$1.26 billion]..., and expenditures will grow by 128.3 billion rubles [$4 billion], unless we take other decisions," Nesterenko said.
She described the potential deficit of 7.2% of GDP as "not a very good indicator for the rating agencies."
Nesterenko said the Finance Ministry was ringing the alarm bell and pledged appropriate measures to keep the country's budget deficit below 6.8%.
The deputy finance minister also said the key task facing the Finance Ministry now was to "not submit a deficit-raising proposal to parliament."
MOSCOW, February 12 (RIA Novosti)