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Increased Non-Oil Budget Revenues in Russia Offset Oil, Gas Losses - Minister
15:13 GMT 23.12.2016 (Updated: 15:31 GMT 23.12.2016)
Russia's non-oil budget revenues saw 21-percent growth this year, fully offsetting lower oil and gas revenues, Finance Minister Anton Siluanov said Friday.
MOSCOW (Sputnik) — He forecast that budget deficit by year-end could drop below 3.7 percent of GDP, and that economic growth next year could reach a "positively surprising" 1.5 percent.
"Total non-oil revenues were up 21 percent compared to last year, fully compensating for lower revenues from oil and gas," Siluanov told reporters.