MOSCOW, August 14. /TASS/. Russia will have a surplus federal budget in 3Q 2023, Presidential Aide Maxim Oreshkin said in an op-ed article for TASS, adding that the full-year budget balance is expected to come in at the targeted level of 2% of GDP.

"The federal budget demonstrated a deficit of 0.3 trln rubles ($2.9 bln) for the second quarter, following a 2.1 trln ruble ($20.9 bln) deficit in 1Q 2023. A surplus budget is expected for the third quarter, whereas the budget balance for the full year is expected to be at around the planned level of 2% of GDP," he said.

The government has managed to stabilize the budgetary situation after 1Q’s high deficit triggered by advance appropriations of expenses and the introduction of consolidated tax accounts, Oreshkin noted.