Russia plans 3pc budget deficit in 2016: minister

Russia's budget deficit is set to reach around 3.0 percent of gross domestic product in 2016, with plans to spend $1 billion on a fund supporting key economy sectors, Finance Minister Anton Siluanov said Thursday.

"We have fulfilled the instructions of the government, by setting the budget deficit at 3 percent of the GDP," Siluanov said, quoted by Russian news agencies.