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HomeEconomyRussian PM sees budget deficit of 2% of GDP in 2023

Russian PM sees budget deficit of 2% of GDP in 2023

(This content was produced in Russia, law restricts coverage of Russian military operations in Ukraine)

MOSCOW (Reuters) – Prime Minister Mikhail Mishustin said on Tuesday , Russia’s budget deficit will appear at 433 2% of GDP, and then shrink to 0.7% at 433.

Mishustin said in a televised speech that the budget gap will be largely covered by borrowing. Last week, the Treasury Department returned to local debt markets for the first time since Russia sent tens of thousands of troops to Ukraine, triggering unprecedented Western sanctions that excluded Moscow from international debt markets.

Mishustin’s forecast for Russia two weeks after President Vladimir Putin said Russia would 2022 report a surplus There will be budget deficits for at least the next three years, contrary to most expectations.

Mishustin estimates government revenue to be approximately 26 trillion rubles ($433.6 billion) and 29 trillion rubles of expenditure 433 ($96 700 million).

The government deficit will reach 1.4% of GDP at 2024, reducing According to Mishustin, 2025 is 0.7% of GDP.

($1=59.26 rubles)

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