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Russian budget executed with $6.5 bln deficit in 1H — Accounts Chamber

The National Wealth Fund totaled $136 bln as of July, or 7% of GDP

MOSCOW, September 27. /TASS/. Russia’s budget was executed with deficit in the amount of 602.4 bln rubles ($6.5 bln), or 0.7% of projected GDP, in the first half of 2024 with revenues standing at 17.1 trillion rubles ($184 bln) and expenditures totaling 17.7 trillion rubles ($191 bln), according to an analytical note on execution of federal budget for January-June 2024 released by the Accounts Chamber.

"Total federal budget revenues amounted to 17.1 trillion rubles, or 48.8% of projected total revenues, including 5.7 trillion rubles of oil and gas revenues, or 49.5%, 11.4 trillion rubles of non-oil and gas revenues, or 48.4%.

The National Wealth Fund (NWF) in rubles equivalent totaled 12.6 trillion rubles ($136 bln) as of July, or 7% of GDP. Compared to the beginning of the year the NWF has increased by 5.3%.

Russia’s state debt went up by 418.6 bln rubles (by 1.6%) in the first half of the year to 26.01 trillion rubles ($281 bln), or 14.5% of GDP. Meanwhile, the Accounts Chamber noted that internal debt rose by 3.1% to 21.46 trillion rubles, while foreign debt in rubles equivalent fell by 4.9% to 4.46 trillion rubles.