12 Oct 2022 14:20

Russian budget surplus continues to narrow, to 54.7 bln rubles for 9M

MOSCOW. Oct 12 (Interfax) - Russia had a federal budget surplus of 54.689 billion rubles for January-September 2022, the Finance Ministry said, quoting preliminary data.

The ministry had estimated the surplus at 137.44 billion rubles for January-August. Thus, there was probably a deficit of 82.8 billion rubles for September.

The MinFin had estimated the surplus at 481.92 billion rubles for January-July but the Federal Treasury later estimated it at 557.5 billion rubles. The MinFin said earlier that there was a surplus of 1.374 trillion rubles for January-June, but the Treasury later said 1.482 trillion rubles.

Budget revenue for the 9M was 19.74 trillion rubles or 78.9% of the year's target and spending was 19.685 trillion rubles or 83.1%.

Oil and gas revenue was 8.507 trillion rubles or 89.1% of the year's target and non-oil revenue 11.233 trillion rubles or 72.6%.

The primary budget surplus for the period was 1.072 trillion rubles.

Interest expenses were 1.018 trillion rubles or 72.5% of target and non-interest expenditures 18.667 trillion rubles or 83.7%.

Federal tax revenue was 13.77 trillion rubles or 82% of forecast tax revenue for the year, customs revenue was 4.797 trillion rubles or 77% and other federal revenue was 1.173 trillion rubles or 58.3%.

The Finance Ministry stopped publishing certain data about budget performance effective from June to minimize the risks of further sanctions. Now absent from the reporting are data about specific budget expenditures, adjusted budget performance figures for previous months, and the balance of sources of internal and external financing for the deficit.