Experts have linked the double increase in the budget deficit with falling revenues
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The Ministry of Finance has significantly adjusted the estimate of the budget deficit in 2022: now it is projected at about 2% of GDP instead of the 0.9% of GDP expected in September. This was announced on Thursday, December 8, by Finance Minister Anton Siluanov. Thus, the deficit at the end of the year may amount to about 2.9 trillion rubles. instead of 1.3 trillion.
“Since we are now carrying out large operations in the financial market and at the end of the year a fairly significant amount of budget expenditures will be made, including partly at the expense of next year’s expenditures, therefore this year we estimate the budget deficit at about 2% of GDP,” Siluanov told reporters. . At the same time, it is premature to assess the impact on the budget of the price ceiling for Russian oil introduced on December 5, the minister noted.
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