Q: What measures will the Russian government take to begin reducing the budget deficit, and how soon do you feel the country's economy will be strong enough for a tighter budget?
A: In 2009, we were expecting the budget deficit to reach 6.4% of gross domestic product (GDP), a figure revised downwards from the 10% initially foreseen. So the budget execution surpassed our expectations. Largely, this is the result of higher oil prices, but also of our anti-crisis policies and the return of confidence to various segments of the economy. With it now picking up, the budget deficit will again be lower in 2010.
