U.S. Markets

Russian budget deficit almost doubles in a month

MOSCOW (Reuters) - Russia’s budget deficit for the first 11 months of this year totaled 505.5 billion rubles ($8.53 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 rubles.

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

Legislation on Russia’s budget deficit sets it at 1.92 trillion rubles 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.

($1 = 59.2673 rubles)

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