13 May 2024 11:03

Russia's budget deficit is 0.8% of GDP in Jan-April - Finance Ministry

MOSCOW. May 13 (Interfax) - According to preliminary estimates, the federal budget of the Russian Federation was executed with a deficit of 1.484 trillion rubles, or 0.8% of GDP, from January through April 2024, a press release from the Ministry of Finance said.

The budget law provides for a deficit in the current year of 1.595 trillion rubles, or 0.9% of GDP.

The deficit totaled 295.3 billion rubles in January-March, updated information from the Treasury says. The Finance Ministry's preliminary estimate of the deficit for the first quarter was 607 billion rubles.

The deficit was 3.049 trillion rubles in January-April of last year, or 1.8% of GDP.

Budget revenues reached 11.684 trillion rubles, which is 50.1% more than in January-April 2023 (7.785 trillion rubles), while spending was 13.168 trillion rubles, which is 21.5% higher than the previous year (10.835 trillion rubles).