Moscow, July 29 (Petra) -- Russia's Finance Ministry said on Wednesday that the federal budget deficit will rise to $100 billion, equivalent to 3.6% of gross domestic product, this year as fiscal pressures broaden.

The updated figure compares with an initial estimate of $47.5 billion.

The ministry said in a statement that the widening deficit stems from increased government spending and a decline in revenues from the energy sector.

It added that the revised forecasts reflect current economic dynamics, noting that it continues to monitor revenue and expenditure developments and will take necessary measures to maintain financial stability.

//Petra// AF