The federal budget surplus for 9 months amounted to 0.2% of Russia's GDP

AK&M 29 November 2022 19:02

The federal budget for January-September 2022 was executed with a surplus of 0.2% of the GDP of the Russian Federation, or more than 200 billion rubles. This was announced by Finance Minister Anton Siluanov at a meeting of the Government of the Russian Federation, according to a transcript posted on the website of the Cabinet of Ministers.

The revenue growth was mainly due to oil and gas revenues, which increased by more than 37%. The reduction in non-oil and gas revenues amounted to about 4%, which decreased primarily due to changes in imports and the tax base.

For the remaining month, according to A. Siluanov, a significant amount of expenses will have to be fulfilled – this is more than 5.5 trillion rubles, or almost 19% of the volume of expenses. This is less than in the corresponding period of last year.

"This year we see a significant amount of funds that are redistributed through the reserve fund – about 6 trillion rubles. We need these resources in order to fully fulfill the obligations of both the current year and to finance a number of obligations in advance, which are envisaged for 2023," the Finance Minister explained.