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Russia’s budget deficit in 2022 could reach up to 2% of GDP

According to Russian Finance Minister Anton Siluanov, the current federal budget surplus is rather conditional, it currently reaches 840 bln rubles

ST. PETERSBURG, June 16. /TASS/. The Ministry of Finance estimates the federal budget deficit at the end of the current year at 2% of GDP, Finance Minister Anton Siluanov said on Thursday.

"We estimate the deficit at 2%," Siluanov told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

According to the minister, the current federal budget surplus is rather conditional, it currently reaches 840 bln rubles ($14.44 bln). "In general, we have a budget surplus, a conditional surplus, because all spending will go towards Q4, when we have to use all resources," the Siluanov said.

Siluanov added that about 3-4 trillion rubles ($51.59-68.79 bln) from the National Wealth Fund of Russia will be allocated to finance the budget deficit.

The St. Petersburg International Economic Forum organized by the Roscongress Foundation is running from June 15 to 18. This year’s forum is dubbed: ‘New Opportunities in a New World’. The SME Forum, the Creative Business Forum, the Drug Security Forum, the SPIEF Junior Dialogue and SPIEF Sport Week are also going to be part of the SPIEF event. TASS serves as the event’s official photo hosting agency and the information partner.

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