Russian budget deficit to be smaller than in other developed countries as of year-end

ST. PETERSBURG, June 5. /TASS/. The budget deficit in Russia now stands at 2.6% of GDP and it may grow by the year-end but it will nevertheless be smaller than in other developed economies, President Vladimir Putin said at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

"The budget deficit of the European Union in 2025 is 3.1% of GDP. The highest deficit is in such countries as Poland - 3.7%, Belgium - 5.2%, France - 5.1%, and the United States - 5.9%. It is 2.6% in Russia. It may grow as of the end of this year but I think it will be smaller nevertheless than in other industrially developed countries," Putin said.