Russia recorded a budget deficit of 1.9% of GDP in 2023, improving from 2.3% in 2022 but missing the government's initial target. According to the preliminary estimate, the overall deficit stood at 3.24 trillion rubles ($36.5 billion), with a 25% increase in non-oil and gas revenues offsetting a 23.9% plunge in energy revenues due to Western sanctions. The country's military expenditures have grown further and are set to around 40% of all budget in 2024. source: Ministry of Finance of the Russian Federation

Russia recorded a Government Budget deficit equal to 1.90 percent of the country's Gross Domestic Product in 2023. Government Budget in Russia averaged 0.75 percent of GDP from 1994 until 2023, reaching an all time high of 9.88 percent of GDP in 2005 and a record low of -7.90 percent of GDP in 2009. This page provides - Russia Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. Russia Government Budget - values, historical data and charts - was last updated on April of 2024.

Russia recorded a Government Budget deficit equal to 1.90 percent of the country's Gross Domestic Product in 2023. Government Budget in Russia is expected to reach -1.30 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia Government Budget is projected to trend around -0.90 percent of GDP in 2025, according to our econometric models.



Related Last Previous Unit Reference
Credit Rating 14.00 Apr 2024
Fiscal Expenditure 9326.00 6499.13 RUB Billion Mar 2024
Government Budget -1.90 -2.30 percent of GDP Dec 2023
Government Budget Value -607.00 -1473.74 RUB Billion Mar 2024
Government Debt 20272.86 20252.39 RUB Billion Feb 2024
Government Debt to GDP 17.20 17.60 percent of GDP Dec 2022
Government Revenues 8719.00 5025.39 RUB Million Mar 2024
Government Spending 6323.70 6104.50 RUB Billion Sep 2023
Holidays
Military Expenditure 109454.40 102366.60 USD Million Dec 2023

Russia Government Budget
Government Budget is an itemized accounting of the payments received by government (taxes and other fees) and the payments made by government (purchases and transfer payments). A budget deficit occurs when an government spends more money than it takes in. The opposite of a budget deficit is a budget surplus.
Actual Previous Highest Lowest Dates Unit Frequency
-1.90 -2.30 9.88 -7.90 1994 - 2023 percent of GDP Yearly