For the third year in a row of Russia’s budget a huge skyla exceeding 3 trillion rubles. Many catches are the consequences of a high and low cost war in Ukraine , Reuters reports.
According to preliminary estimates by the Russian Ministry of Finance , in 2024 years the budget deficit will reach 3.49 trillion ruble ($34.4 bn in 2024 . Dollars). This sum includes 36.71 trillion ruble of government revenue,This is 26 percent more than a year ear earlier as well as expenditures which increased by 24,2 percent to 40,19 trillion rubles.
The Press report highlights that the deficit of general medium product has decreased from 1.9 to 1.7 percent. But it turned out to be almost double the assumptions adopted by the Ministry for 2024 .The projected deficit was 0.9 percent of GDP, which in monetary expression amounted to approximately Rs1.6 trillion ruble.
Excluding the main revenues from oil and gas, the budget deficit has increased over last year up to 7.3 per per cent of GDP in 2023 year.
The Russian government’s preliminary plans for this year increase expenditures up to 41.47 trillionrules,Ofwhicheven41percentwillbeallocatedtofinancemilitaryexpenditures,eventhemilitary,thethepoliceandtheSpecialService.Itisalsoassumedthatthebudgetholewillberestrictedtoonly0.5percentofthevalue ofthegeneralaverageproduct.
