Siluanov: Budget deficit this year could be up to 2% of GDP

By the end of 2022, the federal budget deficit of Russia could reach up to 2% of GDP. This was announced by the Minister of Finance of the Russian Federation Anton Siluanov at a briefing during the St. Petersburg International Economic Forum (SPIEF).

“We estimate a deficit of up to 2% of GDP,” the minister said. RIA News.

This week, the Ministry of Finance reported that the budget surplus for the first five months amounted to 1.5 trillion rubles. The volume of revenues received from January to May reached 12 trillion rubles, or 48% of the total revenues of the federal budget, approved by the law on the budget for the current year.

At the same time, the assessment of the Ministry of Finance is more optimistic than, in particular, the expectations of colleagues from the Bank of Russia. Earlier, the Central Bank published a forecast of analysts who improved expectations for the economy. According to economists surveyed by the regulator, GDP will decline in 2022 not by 9.2%, but by 7.5%.

In turn, the Minister of Economic Development Maxim Reshetnikov also said during the SPIEF that his department is preparing to refine the forecast for the socio-economic development of Russia for the better, taking into account the effective support measures taken by the government for the better.

Leave a Reply