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Russian economy minister sees lower inflation if oil cut deal extended

Russia will see lower inflation and a smaller budget deficit if OPEC and non-OPEC oil producers agree to extend a production cut deal, Economy Minister Maxim Oreshkin said on Monday, Russian news agency reported.

Inflation may slow below the year-end forecast of 3.8 percent, while the deficit could shrink to below 2 percent of gross domestic product from the initially targeted 3.2 percent, Oreshkin said.

The rouble could end the year at 62-63 versus the dollar, Oreshkin said. Previously, he said the rouble rate could average 67.5 versus the dollar this year.