The Russian Federal Government recorded a budget deficit of around RUB 2.58 trillion in the first two months of 2023, according to the Ministry of Finance. It was the widest deficit for the period on record, with spending rising by 51.5% from the corresponding period of the previous year to RUB 5.74 trillion, largely due to spending on the country’s invasion of Ukraine. In the meantime, revenues from oil and gas slumped by 46.4% to RUB 0.947 trillion. The EU and G7 nations aggressively reduced the imports of Russian energy and imposed restrictions on tankers to export energy to third states, while Moscow halted gas flows to Europe in retaliation to sanctions. Besides restrictions from the West, global recession concerns drove energy prices to plummet, further pressuring Russian revenues. The widening deficit in Russia’s budget forced the Kremlin to tap into its sovereign rainy-day fund to cover its expenses, an unprecedented move that underscores the hit to Russia’s finances. source: Federal Treasury Of Russia

Government Budget Value in Russia averaged 237.47 RUB Billion from 1996 until 2023, reaching an all time high of 3442.69 RUB Billion in November of 2018 and a record low of -4113.51 RUB Billion in December of 2020. This page provides - Russia Government Budget Value - actual values, historical data, forecast, chart, statistics, economic calendar and news. Russia Government Budget Value - values, historical data and charts - was last updated on March of 2023.

Government Budget Value in Russia is expected to be -2775.00 RUB Billion by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia Government Budget Value is projected to trend around -750.00 RUB Billion in 2024 and 500.00 RUB Billion in 2025, according to our econometric models.

Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
Russia Government Budget Value

Related Last Previous Unit Reference
Government Debt to GDP 18.20 17.70 percent of GDP Dec 2021
Government Budget Value -2580.00 -1760.00 RUB Billion Feb 2023
Government Revenues 47120251.20 42477521.50 RUB Million Nov 2022
Fiscal Expenditure 6206782.00 2518016.50 RUB Million Feb 2022

Russia Government Budget Value
The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues.
Actual Previous Highest Lowest Dates Unit Frequency
-2580.00 -1760.00 3442.69 -4113.51 1996 - 2023 RUB Billion Monthly
Current Prices, CMLV