Russia’s budget deficit is moving in a direction indicative of economic recovery even as oil prices remain low by historic standards, a minister said. The budget deficit will be around 2 percent of the national gross domestic product, or possibly even less, by the end of the year. Russian Economic Development Minister Maksim Oreshkin said that, despite oil prices falling below $40 per barrel in recent quarters, the economy was on the road to recovery. “What is being discussed now is the issue of economic growth,” he was quoted by Russian news agency Tass as saying. The Russian Central Bank said inflation is holding steady at it’s target rate of around 4 percent, but moved in a range […]