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 May 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.