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Russian budget deficit in 2023 seen at 1% of GDP — Finance Minister

"The economy is working, and growth rates allow us to talk about higher budget revenues," Anton Siluanov said

MOSCOW, November 22. /TASS/. Russia’s federal budget deficit is expected to reach 1% of GDP by the end of 2023, Finance Minister Anton Siluanov told reporters.

"It is expected at about 1%. Initially, it was 2%. Due to what? Additional non-oil and gas revenues are coming fairly well. The economy is working, and growth rates allow us to talk about higher budget revenues," the minister said.

Earlier, in an interview with the Asharq News Bloomberg TV channel, Siluanov said that the Russian budget deficit in 2023 will be slightly more than 1% of GDP. According to a preliminary estimate by the Finance Ministry, in January-October 2023, the federal budget deficit amounted to 1.23 trillion rubles ($13.9 bln).

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