The Russian budget deficit will stand at 1.5 trillion rubles ($25.4 billion) in 2018, Russian Prime Minister Dmitry Medvedev said Thursday.

Russian Prime Minister Dmitry Medvedev stated that the Russian budget deficit in 2018 will stand at 1.6 percent of the GDP, that estimates 1.5 trillion rubles ($25.4 billion).

The Russian government will submit for President Vladimir Putin's consideration a proposal to extend response measures to EU sanctions for the entirety of 2018, Prime Minister Dmitry Medvedev said Thursday.

The Russian budget deficit will stand at 1.5 trillion rubles ($25.4 billion) in 2018, Russian Prime Minister Dmitry Medvedev said Thursday.

"The income is projected at the level of 14.7 trillion rubles, the spending – at 16.2 trillion rubles. Therefore, the deficit [will be] around 1.5 trillion rubles," Medvedev said at a government meeting.

According to Russian Finance Minister Anton Siluanov, the 2018 deficit will be the lowest in recent years.

"The budget deficit in 2018 will stand at 1.6 percent of the GDP … This is the lowest deficit in recent years … In the future, a gradual reduction of budget deficit is forecast to 0.9 percent of the GDP in 2019 and to 0.8 percent of the GDP in 2020," Siluanov said at the meeting.

News.Az