Russia’s budget deficit hits 1.36T roubles by July ’24

Russia’s federal budget deficit for January to July 2024 reached 1.36 trillion roubles ($15.75 billion), according to a preliminary estimate by the Ministry of Finance.

Budget revenues for this period totalled 19.747 trillion roubles ($228.73 billion), marking a 35.9 per cent increase compared to the previous year. Meanwhile, expenditures rose by 23.3 per cent, reaching 21.109 trillion roubles ($244.67 billion).

The Finance Ministry emphasised that the federal budget is being executed in line with the primary structural deficit parameters defined in the budget law, and operations involving the National Wealth Fund are conducted within the framework of the budget rule.

Attribution: TASS