At the end of the first half of the year, Russian budget expenditures exceeded revenues by 929 billion rubles. This is 0.5% of GDP.
Russia’s federal budget deficit for the first seven months of 2024 increased compared to the previous month due to higher costs and lower revenues. This was reported by The Moscow Times on Wednesday, August 7.
It was noted that in January-July the budget deficit reached 1.36 trillion rubles, or 0.7% of GDP.
At the end of the half year, expenses exceeded income by 929 billion rubles. This is 0.5% of GDP.
At the same time, the budget deficit remains almost half as low as in the seven months of 2023, when it reached 2.6 trillion rubles, or 1.5% of GDP, after Western sanctions in response to the full-scale invasion of Russia in Ukraine led to a sharp decline in the reduction of Russia’s income from energy sales.
Let’s recall that by the end of 2023, Russia’s budget deficit will reach 3.24 trillion rubles, or 1.9% of the country’s GDP. This is almost twice as bad as the figure predicted by Kremlin head Vladimir Putin.
Source: korrespondent
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