Page 65 - RusRPTNov20

decline in the demography spending (-RUB84bn) followed by the cuts on infrastructure spending of RUB32bn and digitalisation of RUB28bn.
Main parameters of 2021-2023 federal budget
2020
2021
2022
2023
Revenues RUB trillion
17.9
18.8
20.6
22.3
Expenditures RUB trillion
22.6
21.5
21.9
23.7
Budget deficit RUB trillion
-4.7
-2.8
-1.2-1.4
-1.2-1.4
Budget deficit % GDP
-4.4
-2.4
-1.0-1.1
-1.0-1.1
State borrowing RUB trillion
4.4
2.9
2.1-2.4
2.1-2.4
Source: Ministry of Finance
65 ​RUSSIA Country Report​ November 2020 www.intellinews.com