18 Jan 2023 13:35

Russian federal budget deficit 3.306 trillion rubles in 2022 following December jump in spending

MOSCOW. Jan 18 (Interfax) - Russia had a federal budget deficit of 3.306 trillion rubles in 2022, the Finance Ministry said, citing preliminary data.

There was a surplus of 557.023 billion rubles for January-November, according to preliminary data. On that basis, there could have been a deficit of nearly 3.9 trillion rubles in December.

Both revenue and spending were way above target in 2022. Revenue was 27.825 trillion rubles or 11.1% above target and spending was 31.131 trillion rubles or 31.4% above the original target and 2.5% below the revised target.

Oil and gas revenue was 11.586 trillion rubles or 21.4% above the year's target and non-oil revenue 16.239 trillion rubles or 4.9% above target.

The primary budget surplus for the period was 1.976 trillion rubles.

Interest expenses were 1.331 trillion rubles or 5.2% below target and non-interest expenditures 29.8 trillion rubles or 30% above.