Federal budget revenues for ten months of 2023 increased by 4.4%

According to preliminary calculations Ministry of Finance The volume of revenues of the Russian federal budget from January to October 2023 amounted to 23 trillion 106 billion rubles, which is 4.4% higher than for the same period last year. Budget expenditure for 10 months of the current year amounted to 24 trillion 341 billion rubles.

Non-oil and gas federal budget revenues amounted to 15 trillion 896 billion rubles. — increased by 28% year on year. The ministry notes that revenue dynamics remain “in a consistently positive area.”

Oil and gas revenues from January to October 2023 amounted to 7 trillion 210 billion rubles. and decreased by 26.3% y/y. This result is associated with the high comparison base of last year, a decrease in Urals oil price quotes, and a decrease in prices and volumes of natural gas exports. However, the monthly dynamics of oil and gas revenues significantly exceed their base size.

“In October 2023, the volume of oil and gas revenues exceeded the level of last year by more than 27%,” the message states.

The Ministry of Finance reported that, in accordance with the parameters of the “fiscal rule,” it is possible to ensure the stability of the budget system to fluctuations in oil and gas revenues through the accumulation of income during periods of favorable market conditions and the use of funds from the national welfare fund.

The dynamics of budget expenditures remains “at a normal level.” The volume of expenses for 10 months amounted to 24 trillion 341 billion rubles, exceeding last year’s figures by 11.7%.

The Ministry notes that undistributed reserves, as well as an advance transfer to the Pension and Social Insurance Fund in December 2022 in the amount of 1,496 billion rubles, which will be returned to the budget, will allow the country’s budget to be managed flexibly and to provide finance for unforeseen expenses.

Read more about the growth of oil and gas revenues in October in the material “The calendar helped oil and gas revenues”.

Alexandra Goroshilova