The Russian Federation’s consolidated budget deficit in January-September amounted to 1.37 trillion rubles.

The deficit of the consolidated budget of Russia (the federal budget and the consolidated budget of all constituent entities of the Russian Federation) based on the results of the first nine months of 2023 amounted to 1.37 trillion rubles. In September, the deficit decreased by 432.6 billion rubles, as follows from data Federal Treasury.

In January-September, revenues of the consolidated budget of Russia amounted to 40.85 trillion rubles, expenses – 41.89 trillion rubles. According to the Federal Treasury, the federal budget deficit of the Russian Federation for the period from January to the end of September 2023 amounted to 1.45 trillion rubles, federal budget revenues for the reporting period are estimated at 19.73 trillion rubles, expenses – at 21.18 trillion rubles.

In the first nine months of this year, the consolidated budgets of the constituent entities of Russia were executed with a surplus of 1.149 trillion rubles, the total income of the constituent entities amounted to 15.856 trillion rubles, and consolidated expenses amounted to 14.7 trillion rubles, the Treasury reports.

In July, Russian Finance Minister Anton Siluanov statedthat the federal budget deficit this year may exceed the projected 3 trillion rubles. The head of the Ministry of Finance admitted that by the end of 2023, the deficit of 2% of GDP included in the plan could grow to 2.5%. In October, the Ministry of Finance estimated the federal budget deficit for nine months at 1.699 trillion rubles, or 1% of GDP. The ministry expects that due to large spending in December, the deficit in 2023 will ultimately amount to 1.8% of GDP.

More details in the material “The weakening ruble closes the deficit”.

Erdni Kagaltynov