Page 61 - RusRPTDec22
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The chart shows Russia's budget plan for 2023-2025:
dark blue: oil/gas revenue light blue: other revenue shaded: expenditure gray: deficit/surplus.
Plans will change. This year, spending was planned to be RUB23.7 trillion, not RUB29 trillion.
Russia's Finance Ministry plans to spend the liquid part of the National Welfare Fund completely in the next 2 years to cover #budget deficits, leaving only the "investments" that cannot be easily sold (at the start of 2025: 3.5% of GDP).
Minfin seems to try to limit new net debt to 1-1.5% of GDP per year, e.g. below RUB2 trillion.
61 RUSSIA Country Report December 2022 www.intellinews.com
