The budget deficit Russia reached 20 per cent of GDP.

The primary federal budget deficit of Russia in December 2008 amounted to 805 billion rubles, or 20.4 percent of the monthly GDP. That was reported by RIA Novosti with reference to the Finance Ministry data. In the whole year was recorded a budget surplus: the government received 9.26 trillion rubles, and spent 7.56 trillion rubles.
Previously, it was reported that the budget deficit was recorded and the results of November 2008. Then, the state spent about 270 billion rubles more than received.
Before the fall of 2008, the Ministry of Finance every month on the budget surpluses. This has contributed to sustained economic growth and rising oil prices on world markets, causing export duties on oil in Russia is constantly rising.
In the second half of 2008 economic growth in Russia slowed down considerably because of the global financial crisis. This led to the budget has been receiving less tax revenue from businesses. In addition, in the world market price of oil fell, while the Government had to increase spending to cope with the consequences of the crisis in the Russian banking system and economy as a whole.
Recall that a budget of Russia in 2009-2011 sverstan with a surplus. But at the end of 2008 it became clear that the document should be changed. In the Ministry of Finance has already suggested that a deficit budget for the year will be about five percent of GDP.