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Russia’s budget deficit in 2023 will not exceed 2% of GDP, can be less — Finance Minister

"Everything will depend on the volume of expenses that will be made for the period remaining until the end of the year," Anton Siluanov added

MOSCOW, September 28. /TASS/. The federal budget deficit in 2023 will not exceed 2% of GDP, which is in line with planned indicators, Russian Finance Minister Anton Siluanov told reporters about this during the Moscow Financial Forum.

"Revenues - both oil and gas and non-oil and gas - exceed our planned targets, parameters and expenses. Therefore, the federal budget deficit will definitely not be higher than 2%, and possibly lower. Everything will depend on the volume of expenses that will be made for the period remaining until the end of the year. The deficit will not exceed our planned figures," he said.

According to the Finance Ministry, the Russian federal budget deficit in 2024 will amount to 1.595 trillion rubles ($16.4 bln), or 0.9% of GDP, in 2025 - 830 billion rubles ($8.5 bln) (0.4% of GDP), in 2026 - 1.536 trillion rubles ($15.8 bln) (0.8% GDP).

The Moscow Financial Forum is taking place at the Manezh Central Exhibition Hall. The event is sponsored by the Finance Ministry and the Moscow government.

The main theme of the forum is "In search of a new balance: the Russian financial and economic system during worldwide transformation." For the first time, the Moscow Financial Forum was held on September 23, 2016. TASS is the general news agency of the forum.

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