Putin says Russia's 2027 budget deficit seen at around 2% of GDP

MOSCOW, Sept 17 (Reuters) - Russian President Vladimir Putin said on Thursday the country's budget deficit was projected to be around 2% of gross domestic product in 2027.

"According to preliminary estimates... the federal budget deficit is expected to be around ⁠2%. This is based on a very conservative oil price assumption... of about $50 per barrel," Putin said at a government meeting on economic issues.

He said that Russia was seeing oil prices rise on global markets and therefore ⁠expected oil and gas revenues to increase in the coming months. He added that higher energy revenues would allow the ⁠government to replenish the National Wealth Fund, which serves as a financial buffer for ⁠the state.

Putin also said Russia's economy was expected to grow by ⁠up to 1% in 2026.

Reporting by Reuters; Writing by Anton Kolodyazhnyy; Editing by Joe Bavier and Alex Richardson

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