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Moscow, Aug. 12 (Petra) — Russia’s federal budget deficit widened to
nearly $79 billion in the first seven months of this year, the
Finance Ministry said on Wednesday, as declining oil and gas revenues
and higher government spending put further pressure on public
finances.
In a statement, the ministry said oil and gas revenues fell 16.8%
year-on-year, while government spending rose 14.5%, contributing to a
wider budget gap during the period amid continued challenges facing
energy-sector revenues.
//Petra// AF
