Russian budget deficit will be around 2% of GDP each year in 2027-2029 - Finance Ministry

MOSCOW. Sept 24 (Interfax) - The Russian federal budget plans a deficit of around 2% of GDP each year over the next three years, the Russian Finance Ministry's press service said in a statement.

The Russian Finance Ministry has submitted a series of draft bills to the government for review, including the draft federal budget for 2027 and the 2028-2029 planning period, a draft bill on the execution of the budget over the three-year period and a draft of amendmends to the Russian Tax Code aimed at raising the stability of the budget system.

"Fiscal policy over the next three years is aimed at carrying out all of the state's social obligations, covering the country's defense and safety needs, providing social support to those participating in the Special Military Operation and their families and ensuring technological leadership," the statement reads.