Russia lowers 2019 forecasts for rouble rate, oil and gas revenue

MOSCOW: Russia's finance ministry has cut its forecast average rouble rate for 2019 as well its projections for oil and gas revenue this year, Finance Minister Anton Siluanov said on Tuesday.

Presenting amendments made to the 2019 budget plan at the lower house of parliament on Tuesday, Siluanov said the oil and gas revenue forecast had been lowered due to moves by the government to stabilise the domestic fuel market.

He also said he expected Russia to borrow less on the domestic market this year and that he expected a budget surplus of 1.7% of gross domestic product in 2019.