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.

The 29th St. Petersburg International Economic Forum (SPIEF-2026) is taking place on June 3-6. The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy. The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its official general information partner.