Russian budget deficit almost doubles in a month

FILE PHOTO - A cashier places 5 rouble coins into a counting machine at an office in Krasnoyarsk, Russia, January 22, 2016. REUTERS/Ilya Naymushin/File Photo

MOSCOW (Reuters) - Russia’s budget deficit for the first 11 months of this year totalled 505.5 billion roubles (£6.4 billion), almost double what it was a month earlier, data on the finance ministry’s website showed on Tuesday.

The 10-month figure had been 261.4 billion roubles.

Budget income for Jan.-Nov. totalled 13.41 trillion roubles and spending 13.92 trillion roubles, the data showed.

Legislation on Russia’s budget deficit sets it at 1.92 trillion roubles or at 2.1 percent of gross domestic product, but the finance ministry expects it to come in lower, at about 1.8 to 1.9 percent of GDP.

Reporting by Darya Korsunskaya; Writing by Andrew Osborn; Editing by Larry King