Legislative leaders are planning to meet with Gov. Dannel P. Malloy to discuss how to handle a growing deficit in Connecticut’s budget.

Senate President Martin Looney said legislative leaders are scheduled to meet Wednesday with Malloy.

State Comptroller Kevin Lembo said the state is projected to end the current fiscal year with a $207.8 million deficit, which is more than 1 percent of the net appropriations in the state’s main spending account.

That’s the threshold requiring Malloy to present a deficit-cutting plan to the General Assembly.

Senate Republican Leader Len Fasano said he hopes Malloy “remembers the importance of protecting the core functions of government” and “avoids making decisions out of spite.”

Malloy’s communications director questioned when Fasano will “take responsibility” for his own budget.