Soviet officials said Thursday they will start liquidating unprofitable businesses and farms to bolster the nation's economy and overcome a budget deficit expected to reach $58 billion next year.

"A number of enterprises are on the brink of being eliminated," Finance Minister Boris Gostev told the 1,500 deputies of the Supreme Soviet legislature. They gathered Thursday at the Grand Kremlin Palace in Moscow for a two-day session on a 1989 development plan and $804 billion government budget.Gostev, who presented the deficit budget to the lawmakers, admitted the government of Mikhail S. Gorbachev is finding it difficult to bring deficit spending under control.