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Russia to Increase Borrowing Amid Widening Fiscal Deficit

Finance Minister says the government will raise debt levels this year to address the country’s expanding budget shortfall.

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Terms & Concepts
  • Fiscal Deficit: The gap between a government's total expenditures and total revenues, excluding borrowing.
  • Government Borrowing: The process by which a state raises funds through debt instruments to cover budgetary shortfalls.
  • Finance Minister: A government official responsible for managing national fiscal policy, including taxation and expenditure.