Moscow budget revenues have grown by 6-7% since the beginning of the year – Kommersant

The growth of Moscow budget revenues in 2023 exceeds the forecast by about 1.5 times, Mayor Sergei Sobyanin said. According to him, the forecast included a growth of 4.5%, but since the beginning of the year, revenues have grown by 6-7%.

“This is not a reason to relax, but you should not worry too much either. The budget in Moscow is strong. All social obligations and development plans will be fulfilled,” Mr. Sobyanin said in an interview. “Komsomolskaya Pravda”.

He added that the authorities “have been working for 12 years to increase budget revenues.” “All investments in the city, from landscaping to transport, pay off in multiples and attract private investment… The share of oil and gas companies in the budget over the years has decreased from 17% to 3%. And of course, it is not dominant,” Sergei Sobyanin specified.

He signed the law on the budget for 2023 and the period 2024–2025 in November. It is assumed that Moscow’s income 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. Mr. Sobyanin allowedthat by the end of the year the capital will come out “even with a surplus.” He also did not rule out Moscow entering the borrowing market in 2025-2027.

Laura Keffer