Federal Budget Execution for January-May 2023

Исполнение федерального бюджета за январь-май 2023 г

Julia E. Kazakova, Ilya А. Sokolov and Tatyana V. Tischenko
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Julia E. Kazakova: Gaidar Institute for Economic Policy; Financial University under the Government of the Russian Federation
Ilya А. Sokolov: Russian Presidential Academy of National Economy and Public Administration; Gaidar Institute for Economic Policy
Tatyana V. Tischenko: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration

Russian Economic Development, 2023, issue 7, 4-7

Abstract: At the end of the first five months of 2023 federal budget revenues in nominal terms were Rb 2.2 trillion lower than a year earlier. Oil and gas revenues evidenced the main reason for such a visible reduction in budget revenues, which did not even reach the level of the same period in 2021. Stable dynamics of revenues to the budget is still ensured only by VAT, whose revenues grew by Rb 0.6 trillion in current prices. Federal budget expenditures during the period under review grew by Rb 2.7 trillion in nominal terms, which can partially be explained by a higher level of cash execution (45% of the annual values in 2023 vs 33–36% in the previous two years). As a result of the revenues and expenditures variety of trends the budget balance for the first 5 months of this year amounted to Rb 3.4 trillion vs surplus of Rb 0.3 trillion and 1.5 trillion for the same periods of 2021 and 2022.

Keywords: federal budget; revenue; oil and gas revenues; non-oil and gas revenues; expenditure; taxes (search for similar items in EconPapers)
JEL-codes: H11 H50 H62 H63 (search for similar items in EconPapers)
Date: 2023
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