Page 97 - RusRPTMar23

6.0 Public Sector 6.1 Budget
Russia’s downward slides in the economy and imports since its delusional invasion of Ukraine eleven months ago have substantially depressed Russia’s government revenues.
The consolidated budget, which comprises federal, regional and local municipal budgets plus state social fund budgets, has seen nominal revenues decline significantly on-year since mid-summer 2022 (consolidated budget information is only available through October 2022).
The same applies to federal budget revenues, which account for over half of consolidated budget revenues. In the final months of last year, the federal budget got a boost from a huge production tax imposed on state-owned Gazprom. As a result, nominal federal budget revenues briefly exceeded 2021 levels. Without the Gazprom windfall, revenues would have continued to slide.
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97 RUSSIA Country Report March 2023 www.intellinews.com