November 11, 2016 / 12:26 PM / 3 years ago

Russia's Putin sees risk of budget deficit exceeding 3.7 percent of GDP

Russia's President Vladimir Putin holds a glass during a ceremony of receiving diplomatic credentials from foreign ambassadors at the Kremlin in Moscow, Russia, November 9, 2016. REUTERS/Sergei Karpukhin/File Photo

MOSCOW (Reuters) - Russian President Vladimir Putin said on Friday there was a risk this year’s federal budget deficit could slightly exceed 3.7 percent of gross domestic product.

Putin told a meeting with government officials on the economy that it would not be a disaster if the deficit were to hit 3.8-3.9 percent of GDP, but that Russia should aim for a level of 3.7 percent of GDP.

Reporting by Darya Korsunskaya; Writing by Alexander Winning; Editing by Andrew Osborn

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