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Russian Federal Budget Expenditures in 2023 and 2024: Insights and Analysis

by Alexandra Hartman Editor-in-Chief

2023-12-27 21:11:00

Expenditures of the Russian federal budget in 2023 will exceed the planned level by 3.2 trillion rubles, amounting to 32.2 trillion rubles. This was stated by Russian Finance Minister Anton Siluanov.

“Federal budget expenditures by the end of 2023 will amount to 32.2 trillion rubles,” TASS reports Siluanov’s words. The Law “On the Federal Budget for 2023 and for the planning period of 2024 and 2025” provided for Russian Federation expenditures of 29.056 trillion rubles.

Siluanov stated that the Russian Federation’s expenses in 2024 will increase up to 35.5 trillion rubles. According to him, the budget deficit in Russia in 2024-2026 will not exceed 1% of GDP.

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