Moscow budget revenues for nine months amounted to more than 3.25 trillion rubles

As of October 1, the Moscow budget received 3.259 trillion rubles, which is 79.9% of planned annual assignments, said Elena Zyabbarova, head of the capital’s finance department. Compared to the same period in 2022, Moscow’s budget revenues increased by 393.2 billion rubles. or 14.9%.

Ms. Zyabbarova, quoted by RIA Novosti, also clarified that the volume of tax and non-tax revenues of the capital’s budget for nine months amounted to 2.965 trillion rubles. Tax revenues – 2.722 trillion rubles, non-tax revenues – 243.1 billion rubles.

According to the head of the Moscow Department of Finance, the main tax revenue sources for the capital’s budget are personal income tax, corporate income tax, revenues from special tax regimes and corporate property tax.

In total, in January–September of this year, income tax revenues to the Moscow budget increased by 34.9% and amounted to 1.139 trillion rubles. Compared to the same period last year, the figure increased by 295 billion rubles. Elena Zyabbarova noted that income tax income came very close to income from personal income tax – 1.181 trillion rubles. – the largest source of replenishment of the Moscow budget in recent years.

Dynamics of income tax collections by industry:

• IT and communications – growth by 1.5 times;
• Manufacturing industry – +46.3%;
• Construction – +44.9%;
• Trade – +19%.

“Compared to last year, the financial performance of many companies has improved significantly. For example, in January-July the profit growth of profitable organizations amounted to plus 29.4%. The dynamics of revenues is due to the high additional payment at the end of 2022,” explained Ms. Zyabbarova.

It is expected that Moscow’s revenues in 2023 will amount to almost 3.747 trillion, expenses – 4.183 trillion rubles. The budget deficit this year was estimated at 436.2 billion rubles. Mayor of the capital Sergei Sobyanin admittedthat by the end of the year the capital will “even have a surplus.” He also did not rule out Moscow entering the borrowing market in 2025–2027.

Milena Kostereva