Russia's 5M budget deficit is 0.5% of GDP - Finance Ministry

MOSCOW. June 10 (Interfax) - Russia's Ministry of Finance announced that Russia executed its federal budget with a deficit of 983 billion rubles, or 0.5% of GDP, in January-May 2024, preliminary estimates show.

Amendments to the law on the current year's budget now being considered in the State Duma provide for a deficit of 2.12 trillion rubles, or 1.1% of GDP.

Based on updated information from the Treasury, the deficit reached 3.963 trillion rubles in January-April. The Finance Ministry's preliminary estimate of the deficit for the period was 1.484 trillion rubles, or 0.8% of GDP.

The 5M budget deficit totaled 3.03 trillion rubles last year, or 1.8% of GDP.

Budget revenues for the 5M period totaled 14.289 trillion rubles, a 45.5% increase YoY, while expenses reached 15.272 trillion rubles, an 18.9% increase over last year.