• Russia faces $39 bln budget revenue shortfall in 2020 as oil price drop

    Russia’s budget revenues from selling oil and gas are set to be 3 trillion roubles ($39.01 billion) lower than previously expected due to the slump in crude prices, Finance Minister Anton Siluanov said on Wednesday.

    Siluanov’s previous estimate was for a 2 trillion rouble budget revenue shortfall, with a budget deficit that could reach 0.9% of gross domestic product (GDP) this year.

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