Russia"s federal budget deficit will not...

The Finance Ministry earlier predicted the budget deficit to rise above 7% of GDP in 2010.

"But now, considering the upgrade of the macro-economic forecast and spending cuts, the deficit will not exceed 7%," Kudrin said.

Kudrin said the budget deficit would decline to 4% of GDP in 2011 and 3% in 2012.

In 2009, the budget deficit measured only 5.9% of GDP, compared with the projected figure of 8%, as the budget received higher-than-expected revenues from hydrocarbon exports.

MOSCOW, February 25 (RIA Novosti)

The Bank of Russia is ready to buy any gold...

The Bank of Russia is ready to buy any gold that may be sold by the State Depository for Precious Metals and Gems, the bank"s first deputy chief said on Monday.

MOSCOW. (RIA Novosti commentator Tatyana...

MOSCOW. (RIA Novosti commentator Tatyana Sinitsyna) - The construction of the Belene Nuclear Power Plant has finally started on the Bulgarian bank of the Danube.

MOSCOW, May 24 (RIA Novosti) - The European...

MOSCOW, May 24 (RIA Novosti) - The European Union welcomes Russia"s commitment to the ongoing international fight against terrorism financing and money laundering, the deputy head of the European Commission"s delegation in Moscow said Thursday. Paul Vandoren said the European Commission and the Council of Europe will contribute 3.5 million euros ($4.5 million) through 2010 on a program to assist Russia in its continuing enforcement efforts. Alexander Seger, the head of the Council of Europe"s technical cooperation division in the Department of Crime Problems, said that Russia and the EU already have considerable experience working together to stop financial crimes. Russia is an active participant in the international fight against money laundering and a full-fledged member of the Egmont Group, he said, referring to the coordinating body for international financial intelligence units (FIUs) formed in 1995 to promote and enhance international cooperation in anti-money laundering and anti-terrorism financing. He said that international money laundering and terrorism financing registered a 15-fold increase in 2006 and early 2007 over previous years, although he did not cite any specific figures for Russia.

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