The government debt of the Russian Federation increased by 11.6% in the first nine months of 2023 – Kommersant

Russia’s public debt in January–September amounted to about 25.5 trillion rubles, or 17% of the projected GDP. It grew by 11.6%, or by 2.65 trillion rubles, follows from the analytical note of the Accounts Chamber on the execution of the federal budget (.pdf). The growth dynamics for six months was 9.8%.

Domestic debt on securities whose nominal value is indicated in rubles increased by approximately 1.6 trillion rubles. External debt in ruble equivalent increased by approximately 1.1 trillion due to an increase in foreign currency exchange rates against the ruble. At the same time, the volume of external debt in US dollars decreased by $5.1 billion, or 8.9%. This is mainly due to a decrease in government debt on Russian securities denominated in foreign currency.

The volume of the National Welfare Fund (NWF) is 13.7 trillion rubles. (9.1% of projected GDP). Compared to the beginning of the year, the volume increased by 3.2 trillion rubles, or 30.8%. This is mainly due to an increase in the market value of ordinary shares of Sberbank, Aeroflot, VTB by 1.4 trillion rubles, as well as a positive exchange rate difference and revaluation of the value of gold in the amount of 2.3 trillion rubles.

The budget deficit for nine months amounted to 1.7 trillion rubles. with income of 19.73 trillion rubles. and expenses in the amount of 21.43 trillion rubles. Revenues decreased by RUB 5.7 billion. (0.03%) compared to the same period. Oil and gas revenues increased by 1.5 times, mainly due to a decrease in the average price of Urals oil and natural gas. Non-oil and gas revenues increased by 26%, which is associated with an increase in VAT receipts, import customs duties, income from the management of funds of the National Welfare Fund and recycling fees.

About the budget for 2024 and the planning period 2025–2026 – in the material of Kommersant “Senators were inspired by the budget”.

Leonid Uvarchev