Russian Finance Ministry still expects budget deficit within 1.7% of GDP in 2024 - Siluanov

MOSCOW. Dec 20 (Interfax) - Russia's federal budget will be within 1.7% of GDP, as forecast, for 2024, Finance Minister Anton Siluanov told journalists on the sidelines of the State Council.

"We will meet it," he said, when asked whether the deficit target would be met.

The government has received the right to increase overall federal budget spending in 2024 by up to 1.5 trillion rubles without having to push amendments through parliament. As a result, the deficit was estimated at 3.296 trillion rubles or 1.7% of GDP. The current year's budget initially envisaged a deficit of 1.595 trillion rubles, or 0.9% of GDP, which was increased to 2.12 trillion rubles, or 1.1% of GDP, in the spring.

There was a budget deficit of 398 billion rubles or 0.2% of GDP according to preliminary data for January-November.