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Federal Budget Execution for January-May 2023
[Исполнение Федерального Бюджета За Январь-Май 2023 Г]

Author

Listed:
  • 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)

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.

Suggested Citation

  • Julia E. Kazakova & Ilya А. Sokolov & Tatyana V. Tischenko, 2023. "Federal Budget Execution for January-May 2023 [Исполнение Федерального Бюджета За Январь-Май 2023 Г]," Russian Economic Development, Gaidar Institute for Economic Policy, issue 7, pages 4-7, July.
    • Handle: RePEc:gai:recdev:r2353
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    More about this item

    Keywords

    federal budget; revenue; oil and gas revenues; non-oil and gas revenues; expenditure; taxes;
    All these keywords.

    JEL classification:

    • H11 - Public Economics - - Structure and Scope of Government - - - Structure and Scope of Government
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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