Russia: Budget 2022 targets 1% surplus; confirms commitment to fiscal prudence

Surplus reflects low spending growth as govt withdraws fiscal stimuli

Revenues to increase, boosted by rising oil output, higher taxes on metal industry

Government to continue to rely primarily on OFZ bonds to cover financing needs

Public debt to rise gradually, but remain low at 20-21% of GDP in 2022-24

Parliament to adopt budget bill without significant revisions