Russian budget deficit planned at 2.2% of GDP in 2027 - finance minister

MOSCOW. Sept 24 (Interfax) - The draft federal budget for the next three-year period is resilient to various scenarios, with the deficit in 2027 amounting to 2.2% of GDP, Russian Finance Minister Anton Siluanov said.

"The budget deficit is set at around 2% of GDP for the upcoming three years. In 2027, the budget deficit will amount to 2.2% of GDP," Siluanov said at a government meeting where the draft of the country's main financial document for 2027 and the planning period of 2028-2029 is being considered.

The budget is balanced, which is important for maintaining macroeconomic stability, reducing inflation, interest rates and growth in the real disposable incomes of the population, which next year will amount to 1.4%, he said.

Next year's budget expenditures will amount to 48.8 trillion rubles, and revenues will total 43.3 trillion rubles, he said.

"The budget is resilient to various scenarios. Starting next year, for three years the base price of Urals oil is taken into account at $50 per barrel. That is, all obligations will be financed at such a level of oil prices. With a more favorable environment, we will replenish the National Wealth Fund," he said.