According to the results of April, the budget of the Russian Federation for the first time this year was in deficit – expenditures exceeded revenues of 262 billion rubles.
In Russia, the growing economic recession began to hit government revenues. According to the results of April, the federal budget recorded a landslide collapse in VAT collections, the Moscow agency reports, citing statistics from the RF Ministry of Finance.
“Primary tax revenues, which are sewn into the value of all goods and services in the country and provide every fifth ruble of state revenue, have fallen by 54%. The Ministry of Finance has managed to collect 191.9 billion rubles against at 414.7 billion in April 2021, “the ministry said in a statement. message.
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It was noted that in Russia VAT is the second largest source of revenue for the government after taxes in the oil and gas sector. The budget for the current year includes its fees in the amount of 5.27 trillion rubles.
Until the end of March, this plan was carried out with a vengeance: a third of the annual amount was collected within three months. But in April, the river of non-commodity rubles became shallow. At the same time, import revenues (excises, duties, import VAT) fell sharply – by 38% yoy, to 264.1 billion rubles. As a result, total non -oil and gas revenue dropped by 18% to 1.058 trillion rubles.
“The revenue share of the budget indicates that the economy is starting to decline in economic activity,” said Natalia Orlova, chief economist at Alfa-Bank.
According to the results of the first quarter, the Russian economy remained in positive territory (by 3.5% yoy), but in the second quarter will begin a recession, which will reduce GDP by 6-8%, predicts Raiffeisenbank.
According to the results of April, the budget of the Russian Federation for the first time this year was in deficit: government spending exceeded revenues by 262 billion rubles. And this trend will continue: by the end of the year, according to official forecasts of the Ministry of Finance, the “hole” in the treasury will grow to 1.6 trillion rubles.
It was previously reported that Russia’s economic growth slowed more than expected in the first quarter, to 3.5%, despite economists ’average forecast of 3.7%.
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Source: korrespondent
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