Page 68 - RusRPTNov22

the federal budget, is set to skyrocket to a new level this year and next. Defence spending and spending on administration will also grow rapidly this year. Different sectors of the economy are at least so far scheduled to receive very little additional budget spending even with a recession at hand.
Main parametres of 2021-2023 federal budget
2020
2021
2022
2023
Revenues RUB trillion
17.9
18.77
20.64
22.26
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
5.2
3.7
2.1-2.4
2.1-2.4
GDP nominal value RUB trillion
115.53
124.22
132.82
Urals price - fiscal rule $
43.3
44.2
45
Urals price - budget assumption $
45.3
46.6
47.5
Assumed OPEC+ budget adjustment RUB bn
91
703
787
NWF year end balance RUB trillion
12.49
12.64
13.47
Source: Ministry of Finance
68 RUSSIA Country Report November 2022 www.intellinews.com