In their calculations, the Government of the Russian Federation proceeds from the fact that at the end of the year the budget will be in deficit.
Russia’s budget deficit in July reached 892 billion rubles, due to which its surplus for the whole of 2022 was reduced by two-thirds. This was reported by Kommersant.
It was noted that according to the results of seven months, budget revenues still exceeded expenditures, but this difference decreased during the month from 1.4 trillion to 482 billion rubles, that is, by two-thirds.
In July, revenues reached 1.76 trillion rubles, which is more than a quarter (26%) less than a year earlier. At the same time, both oil and gas and non-oil and gas revenues fell in July, respectively, by 23% and 29% compared to July 2021.
It was also reported that budget expenditures in July, compared to the same period last year, increased by 25%, which, with falling income, determined the monthly deficit of 892 billion. Spending in July reached 2.65 trillion rubles, which is higher than the average monthly indicator of the first half of the year 2.11 trillion rubles.
In their calculations, the Government of the Russian Federation proceeds from the fact that at the end of the year the budget will be in deficit. The deficit is planned to be covered by the National Wealth Fund, which at the beginning of July was about $210 billion.
Earlier it was reported that the Russian government planned to abandon 1.6 trillion rubles of spending on state programs in 2023-2025.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.