Oil and gas revenues of the Russian Federation increased by 26%, to 11.1 trillion rubles, but did not reach the expected level, increasing the deficit to 3.5 trillion rubles.
The aggressor country Russia ends 2024 with a budget deficit recorded in previous years at 3.5 trillion rubles. The Moscow Times reported this yesterday with reference to data from the Russian Ministry of Finance.
According to preliminary estimates, by the end of the year, costs exceeded the department’s plan by 800 billion rubles, and total costs reached 40.2 trillion rubles – 24% more than in 2023.
This was facilitated by accelerated inflation at the end of the year, which made it possible to increase non-oil and gas budget revenues to 25.6 trillion rubles – 26% more than a year earlier. Thanks to the budget rule, these funds are dedicated to covering costs.
Oil and gas revenues also increased by 26%, to 11.1 trillion rubles, but did not reach the expected level, increasing the deficit by 200 billion rubles, to 3.5 trillion rubles.
This is a record figure in recent years: in 2022 and 2023, the deficit reached 3.3 and 3.2 trillion rubles, respectively. During the three years of the war in Ukraine, the total budget deficit of the Russian Federation reached 10 trillion rubles. Relative to GDP, the figure dropped to 1.7% against 2.1% and 1.9% in previous years.
Let’s remember that the war launched by Russia against Ukraine negatively affected the lives of almost half of the citizens of the Russian Federation – 47.6%. This is confirmed by the data of a sociological survey conducted by the Institute of Socio-Political Research of the Russian Academy of Sciences.
Source: korrespondent
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