Russian Prime Minister Vladimir Putin on Monday said that the country's 2011 budget deficit may be lower than one percent of gross domestic product (GDP), according to local media reports.
"The budget deficit will be 1-1.5 percent (of GDP) or maybe even less, under 1 percent," Putin told a governmental meeting on fiscal policy.
The prime minister also reiterated that the government's task for 2012 to 2014 was to achieve a deficit-free budget, adding that "we need to do everything necessary to make it."
In May, Russian Financial Minister Alexei Kudrin said Russia's 2011 budget deficit would be 1 to 1. 4 percent of GDP.
Before the global financial crisis, Russia has been keeping a deficit-free budget for years. According to the Russian Economic development Ministry, Russia's 2009 deficit was equal to 7.7 percent of its GDP, surpassing 3 trillion rubles (104 billion dollars).
In 2010, Russia's budget deficit stood at 3.9 percent of GDP.