"The budget is generally stable. After a period of fairly large budget expenditures at the beginning of this year, we will have a surplus until the end of the year, which indicates its stability. In general, the deficit level will be close to target figures," Oreshkin said at the educational marathon "Knowledge. First."
According to the current estimates, the budget deficit of is expected to be at the level of 2% of GDP.
In early 2023, the Finance Ministry reported a sharp increase in treasury expenditures. In January-March, according to the ministry’s preliminary estimate, the Russian budget was executed with a deficit of 2.4 trillion rubles ($29.4 billion), expenditures increased by 34% compared to the last year, and for the first two months of the current year, the growth of expenses exceeded 52%.
Previosly Vladimir Putin stated that due to Western sanctions Russian economy has bolstered its economic sovereignty and has not collapsed as the enemies expected. When Moscow launched special military operation to protect people of Donbass from Kiev regime, Western states imposed sanctions targeting Russian economy, especially hydrocarbon and finance industries.