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Russia's budget deficit reaches 1.7% of GDP in 2024 — Putin

"This is an acceptable level, especially against the background of the state of public finances of the so-called developed economies," the Russian president noted

NOVO-OGARYOVO, January 22. /TASS/. Russia’s federal budget deficit in 2024 reached 1.7% of GDP, which is an acceptable level, especially compared to the situation in developed economies, Russian President Vladimir Putin said at the opening of a meeting on economic issues.

"A few words on the state of the federal budget: according to estimates, its deficit last year amounted to 1.7% of GDP. This is an acceptable level, especially against the background of the state of public finances of the so-called developed economies," Putin said.

He cited data according to which in 2024 the budget deficit in relation to GDP in the United States amounted to 6.2%, France - 6.2%, Italy - 3.8%, Japan - 3.7%, Germany - 2.2%.

Putin added that the Russian budget deficit figure is in line with the forecasts made when the budget for the next three-year period from 2025 to 2027 was drawn up. Addressing the participants of the meeting, the President suggested to summarize the preliminary results of 2024 in terms of the state of affairs in the real sector in the field of finance, including the budgetary sphere.

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