Russian govt managed to balance budget, it's indicator of economy's sustainability - Putin

MOSCOW. Dec 19 (Interfax) - The Russian government has managed to balance the federal budget, and the quality of this balance is at the level of 2021, President Vladimir Putin said.

"The federal budget deficit stands at 2.6% of GDP [as forecasted as of the end of 2025], but we assume that next year it will be 1.6%, and it should not exceed 1.5% within the next three years or so. It is a good result, given that government debt also remains very low, one of the lowest among developed economies [...], it stands at around 17.7% and should not rise above 20% within the next three years," Putin said at his Q&A session and end-of-year press conference.

"The main thing is that we managed, and it is necessary to give the government credit for it, they carried out extensive work, to balance the budget, and the quality of this balance is at the level of 2021, which is a very important indicator of the sustainability of the country's economy and financial system," he said.

It means that issues related to the fulfilment of social commitments, development as part of the national projects will be solved in full, the technological development goals will be achieved, and the needs of the Armed Forces will certainly be covered, Putin said.

"All these taken together point to the sustainability of the economy and the financial system, which are fully under the control of the government and the Central Bank," Putin said.