MOSCOW, December 8. /TASS/. Russia’s federal budget deficit in January-November 2023 amounted to 878 bln rubles ($9.5 bln), according to preliminary figures provided by the Finance Ministry.

"According to preliminary estimates, federal budget revenues in January-November 2023 amounted to 25.963 trillion rubles, which is 4.8% higher than the volume of revenues received in the same period in 2022. Meanwhile stable positive dynamics is registered on key non-oil and gas revenues received both by the federal budget and the budget system overall," the ministry said in a statement.

Preliminarily federal budget expenditures totaled 26.841 trillion rubles in the first 11 months of 2023, up by 11.7% year-on-year.

Russia’s federal budget revenues from oil and gas sales proceeds amounted to 8.22 trillion rubles ($89.4 bln) in the reporting period, down 22.8% year on year, the ministry said.

"Oil and gas revenues amounted to 8.226 trillion rubles, down by 22.8% year-on-year, which is related to last year’s high comparison base, a decline in Urals price quotations at the beginning of the year, a drop in prices and the contraction of natural gas export volumes," according to the statement.

Non-oil and gas revenues of Russia's federal budget increased by 25.6% in January-November 2023 year-on-year to 17.737 trillion rubles ($193 bln).

Russian Finance Minister Anton Siluanov told reporters on November 22 that the country’s federal budget deficit was expected at 1% of GDP by the end of 2023.