Russia projects 2% budget deficit even under conservative oil price estimate - Putin

Moscow [Russia], September 18: Russia's federal budget deficit is projected to hit approximately 2%, calculated against a highly conservative oil price estimate, President Vladimir Putin announced on Thursday.
Opening a meeting on the economy, the head of state noted that this fiscal gap remains manageable under the current macroeconomic assumptions.
"According to preliminary estimates, the federal budget deficit is expected to be around 2%," Putin said. "And this is based on a very conservative estimate of oil prices."
Fulfilling social obligations, ensuring citizen safety, and strengthening national defense capabilities must remain the absolute priorities for Russia's 2027 federal budget, President Putin said as quoted by TASS.
He emphasised that the upcoming budget must also continue to serve as the primary instrument for achieving the country's national development goals.
Russia's annual inflation is steadily decelerating, hitting 6.2% as of September 14, which marks a significant drop compared to last year's figures.
"As of September 14, inflation stood at 6.2%, which is noticeably lower than last year's level," Putin said.
"Let me also recall that at the end of the first quarter of 2025, inflation was still in the double digits at 10.3%," he added.
Source: Emirates News Agency