Russia's budget deficit could grow 3-4 times in 2023

  1. Home
  2. Economics
  3. Russia's budget deficit could grow 3-4 times in 2023
13:45, 09.03.2023

Russia could exhaust the Sovereign Wealth Fund by the end of 2023.



Such forecasts have been made by the KSE Institute.

According to the experts, in 2023 the annual budget deficit of the Russian Federation will increase 3-4 times compared to the previous year. In addition, the Sovereign Wealth Fund may be exhausted by the end of 2023.

Experts reveal how much money Russia has spent on massive missile attacks on Ukraine

Experts estimate how much money Russia has spent on shelling in Ukraine since last October

12:30, 09.03.23
Artur Zayonts
Artur Zayonts

Already in February 2023, Russia's federal budget deficit was 820 billion roubles and in the first two months of the year the total was 2.6 trillion roubles or 88% of the planned deficit for the whole year.

Russia has fallen far short of its own budget plans. The Kremlin also continues to spend heavily on the ongoing illegal war against Ukraine.

As for Russia's oil and gas revenues, they were 46% lower than in 2022. At the same time, federal budget expenditures remain 51% higher than in January and February 2022.

Also, Russia continues to actively spend money from the National Welfare Fund (NWF), resulting in a reduction of 1.4 trillion roubles. If the rate of use continues, the liquid part of the Fund will be almost exhausted by the end of this year.

Support us on Patreon
Like our content? Become our patron
Artur Zayonts

Artur Zayonts specialises in news from the frontline. A historian by education, Arthur has always sought to bring depth and context to his journalistic work.