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Russia’s budget deficit at $41.9 bln in January-May — Finance Ministry

Earlier, in early May, the Finance Ministry reported that the federal budget deficit for January-April 2023, according to the preliminary estimate, will amount to 3.4 trillion rubles

MOSCOW, June 6. /TASS/. Russia’s federal budget deficit, according to the preliminary estimate by the Finance Ministry, amounted to 3.41 trillion rubles ($41.9 bln) in January-May 2023. This is according to a statement published on the ministry’s website on Tuesday.

"According to a preliminary estimate, the volume of federal budget revenues in January-May 2023 amounted to 9,818 billion rubles ($121 bln), which is 19% lower than the volume of revenues for the same period in 2022 (in May 2023 + 1.2% year-on-year). At the same time, in terms of the receipt of key non-oil and gas revenues - both the federal budget and the budget system as a whole - there is a steady positive trend," the statement says.

Previously, the volume of federal budget expenditures for the five months of 2023 amounted to 13.229 trillion rubles ($162 bln), exceeding the figures for the same period last year by 27%, the ministry said. Thus, the budget deficit for the reporting period reached 3.41 trillion rubles.

The Finance Ministry of noted that the dynamics of receipt of non-oil and gas revenues and financing of expenses indicate the ongoing normalization of the execution of the federal budget during January-May of this year and, in general, corresponds to the parameters of the budget law.

Earlier, in early May, the Finance Ministry reported that the federal budget deficit for January-April 2023, according to the preliminary estimate, will amount to 3.4 trillion rubles.

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