Putin Says Russia's Budget Deficit Seen at 2% Even Under Conservative Oil Price Estimate

Russian President Vladimir Putin said the country's budget deficit is projected at 2% of GDP even under a conservative oil price estimate, according to a report by Russian state news agency TASS.

Putin made the remarks while opening a meeting on the economy, TASS reported. He noted that this fiscal gap remains manageable given the current macroeconomic assumptions underpinning the government's budget planning.

The TASS report did not provide further details on the specific oil price assumption used in the projection or additional figures discussed during the meeting.

Russia's budget has faced pressure in recent years amid Western sanctions and fluctuations in global energy prices, with oil and gas revenues forming a significant share of state income.

TASS did not specify the date or full agenda of the economic meeting referenced in its report.