Russian President Vladimir Putin has predicted that the country’s federal budget deficit will fall below 1.5% of gross domestic product (GDP) by the end of 2023. Quoted RIA News.
“Our openness is even less than 2 percent,” the head of state said at the Council of State meeting.
He noted that this result was expected and not bad.
“It will most likely be less. It will even be below 1.5 percent,” the Russian leader shared his prediction.
Before that the Ministry of Finance of the Russian Federation reportedIt was stated that, according to preliminary estimates, the federal budget deficit in January – November 2023 is 878 billion rubles, and this figure is 4.8% higher than the amount of revenue generated in the same period of 2022.
In response, Putin statedIn general, the Russian financial system is currently in a healthy state, with the 11-month federal budget deficit at 0.5% of GDP and the consolidated budget in surplus.
Previously Russia augmented Public debt to cover the budget deficit