The problem of the frightening budget deficit has resolved itself

Fears of a record budget deficit by the end of 2023 have not yet been confirmed – the gap between revenues and expenses, which grew rapidly at the beginning of the year, is steadily decreasing, according to data published by the Ministry of Finance for August. In the first eight months, the treasury received almost 17 trillion rubles. revenues, which is only 3.5% less than for the same period in 2022. At least until May, the decline in revenues was much more dramatic. For example, in January, income was 35% lower than a year earlier, and according to the results of the first four months, the minus was 22%.

The Ministry of Finance estimated expenses for eight months at 19.4 trillion rubles, which is 12% more than the same period last year. The deficit for January–August, therefore, was at the level of 2.4 trillion rubles, or 1.5% of GDP, the department said in a statement. But over the summer the figure smoothed out noticeably. Based on the results of the first four months, the deficit exceeded 3 trillion rubles; it remained at the same level in May, and then began to decline.