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Russia to avoid a budget deficit in 2012: Putin

MOSCOW : Russia may be able to balance its budget in 2012 and avoid a deficit if external conditions are favourable, P
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By Muhammad Iqbal
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putinMOSCOW: Russia may be able to balance its budget in 2012 and avoid a deficit if external conditions are favourable, Prime Minister Vladimir Putin said on Friday.

Putin, speaking at a financial forum in Russia's Black Sea resort town of Sochi, also said that the budget should be managed by improving the efficiency of expenditures and not by raising taxes.

He also warned Russia should not become a "safe haven" for speculative capital.

Copyright Reuters, 2011

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