The Ministry of Finance preliminary estimated the budget deficit of Russia in January-March at 2.4 trillion rubles

MOSCOW, 7 April – The federal budget of the Russian Federation in January-March, according to preliminary estimates of the Ministry of Finance, was executed with a deficit of 2.400 trillion rubles, expenses increased by 34%, to 8.077 trillion rubles, according to materials on site ministries.

The volume of income received in January-March amounted to 5.677 trillion rubles, which is 21% lower than the volume of income received in January-March 2022, however, as the ministry notes, “in general, the budget system shows a positive trend in income receipts year-on-year.”

According to preliminary estimates, the volume of federal budget expenditures in the first quarter of 2023 amounted to 8.077 trillion rubles, exceeding the figures for the same period last year by 34%. However, monthly dynamics of execution of federal budget expenditures slowed down in March (+4.2% yoy) after accelerated financing of certain contracted expenditures in January-February.