Russia’s budget deficit in January-February amounted to 2.58 trillion rubles
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The Russian federal budget deficit in January-February 2023 was tentatively RUB 2.58 trillion, transmits press service of the Ministry of Finance.
“According to a preliminary estimate, the volume of federal budget revenues in January-February 2023 amounted to 3.163 billion rubles, which is 25% lower than the volume of revenues in January-February 2022,” the report says. Expenses amounted to 5.74 trillion rubles, which is 52% more than a year earlier.
Oil and gas revenues amounted to 947 billion rubles. and decreased by 46%, which is primarily due to a decrease in quotations for Urals oil and a decrease in natural gas exports, the ministry noted.
“Preliminary estimates of the execution of the federal budget in January-February of this year correspond to the dynamics laid down in the formation of the main characteristics for 2023 within the framework of the budget law,” the Ministry of Finance concluded.
On February 6, the department reported a budget deficit in January of 1.76 trillion rubles, while revenues were estimated at 1.4 trillion rubles, which is 35% lower than the revenue in January 2022. They also specified that budget expenditures increased by more than 3.1 trillion rubles.
In the same month, the ministry sold a small portion of gold from the National Welfare Fund (NWF) for the first time, according to a Finance Ministry report. According to the ministry, 3.6 tons of depersonalized gold were sold, as well as 2.3 billion yuan.
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