Russia had budget deficit of about 0.5% of GDP in 11M - Putin

MOSCOW. Dec 7 (Interfax) - The Russian federal budget was executed from January-November with a deficit of about 0.5% of GDP, while the consolidated budget for this period was in surplus, Russian President Vladimir Putin said.

"For 11 months of this year, the budget deficit of the Russian Federation totaled 878 billion rubles; this is approximately half a percent of GDP. And if you look at the consolidated budget, then there was a surplus of 837 billion rubles," he said, speaking at the Russia Calling! Forum organized by VTB .

"That is, in general, the Russian financial system is in an absolutely normal, healthy state," the president said.

The Federal Treasury has said that according to its preliminary estimate there was a consolidated budget surplus of 212.8 billion rubles and a federal budget deficit of 1.05 trillion rubles in January-October.

The planned 2023 budget deficit is about 2.9 trillion rubles, or 2% of GDP. Finance Minister Anton Siluanov said at the end of September that the deficit could be less than 2%, and at the beginning of October, President Vladimir Putin gave an even more optimistic estimate of around 1%. The 1% estimate still stood at the end of November, according to Siluanov's most recent remarks.