The Ministry of Finance estimates the budget deficit in 2023 at 1.9% of GDP – Kommersant

The Russian budget deficit in 2023 amounted to 3.2 trillion rubles, or 1.9% of GDP, follows from the preliminary assessments Ministry of Finance of the Russian Federation. In 2022, the deficit, according to the Ministry of Finance, amounted to 3.3 trillion rubles, or 2.1% of GDP.

According to the department, in 2023, federal budget revenues amounted to 29.1 trillion rubles, which is 4.7% higher than the 2022 level. Expenses, according to the Ministry of Finance, increased by 4% year on year, to 32.4 trillion rubles.

The ministry reported that non-oil and gas Budget revenues in 2023 amounted to 20.3 trillion rubles, an increase of 25% compared to the previous year. Oil and gas revenues amounted to 8.8 trillion rubles. and year-on-year decreased by 23.9%, follows from the Ministry of Finance’s assessment.

Yesterday, January 10, Russian President Vladimir Putin reportedthat Finance Minister Anton Siluanov reported to him that the budget system of the Russian Federation feels confident. In November 2023, the federal budget of the Russian Federation for the fourth month in a row was closed with a monthly surplus. The 2023 budget law provided for an annual deficit of 2%.

Monitoring the execution of the federal budget in January-November 2023 – in the Kommersant material “The budget reached the minimum deficit this year”.

Erdni Kagaltynov