The Ministry of Finance reported on the execution of the budget for January-March 2023

By prior evaluation Ministry of Finance, federal budget revenues in January-March 2023 amounted to 5.677 trillion rubles, which is 20.8% lower than revenues in the first quarter of 2022. The ministry attributes this primarily to the decline in oil and gas revenues, which fell by 45% against the backdrop of declining prices for Urals oil and a reduction in gas exports. Non-oil and gas revenues decreased by 3.5%. The dynamics of the receipt of the largest non-oil and gas taxes of the federal budget (turnover taxes, income tax) has normalized after a temporary reduction in January, the press release says. Expenses in the first quarter increased by 34% to 8.077 trillion rubles.

The deficit of the federal budget of Russia in the first quarter of 2023 amounted to 2.4 trillion rubles. — more than 80% of the plan for the entire current year (2.925 trillion rubles).