The Ministry of Finance did not rule out a change in the volume of the Russian budget deficit this year
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The Russian Finance Ministry does not rule out a change in the federal budget deficit in 2023, Finance Minister Anton Siluanov said.
“The economy is mobile. The deficit can also change a little. Both in one direction and in the other direction, ”said the minister (quote according to TASS). Siluanov did not specify what the range of fluctuations of this volume would be.
According to the current budget law, revenues for this year are planned in the amount of 26.1 trillion rubles, expenses – a little more than 29 trillion, thus, the deficit is expected at the level of 2.9 trillion, or 2% of GDP. Borrowings in the domestic market should become the main sources of its coverage. At the same time, this year, to ensure a balanced budget, it is possible to use the funds of the National Wealth Fund in the amount of 2.9 trillion rubles.
According to the Ministry of Finance, federal budget revenues grew by 29.8% y/y in June. Over the month, the balance of the federal budget reached a surplus of 800 billion rubles. For comparison, in May there was a deficit of 400 billion rubles. The budget deficit last month decreased from 3.4 trillion rubles. to almost 2.6 trillion rubles. Expenses also increased to 14.97 trillion rubles. (growth by 19%).
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