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Russian Finance Ministry projects 2023 budget execution with deficit at 2% of GDP

The execution trend for federal budget expenditures remains at normal levels following accelerated spending at the beginning of the year

MOSCOW, September 11. /TASS/. The Russian Finance Ministry projects the country’s budget execution in 2023 with deficit equal to 2% of GDP given the stable trend toward improvement in the budgetary situation, the Finance Ministry said, citing Finance Minister Anton Siluanov.

"The stable trend toward improvement of the budgetary situation makes it safe to project this year’s budget execution with a deficit at the level of the initial outlook of 2% of GDP," Siluanov was quoted as saying.

The execution trend for federal budget expenditures remains at normal levels following accelerated spending at the beginning of the year.

"The structural deficit will contract gradually, with fiscal rule parameters to be reached in 2025," the ministry noted.

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