Russia"s Finance Ministry has raised its...

She said the adjusted budget deficit was based on a forecast from the Economic Development Ministry as of December 15.

"[Budget] revenues are expected to fall by 38 billion rubles [$1.26 billion]..., and expenditures will grow by 128.3 billion rubles [$4 billion], unless we take other decisions," Nesterenko said.

She described the potential deficit of 7.2% of GDP as "not a very good indicator for the rating agencies."

Nesterenko said the Finance Ministry was ringing the alarm bell and pledged appropriate measures to keep the country"s budget deficit below 6.8%.

The deputy finance minister also said the key task facing the Finance Ministry now was to "not submit a deficit-raising proposal to parliament."

MOSCOW, February 12 (RIA Novosti)