Negative estimates of the reduction of the Russian federal budget on the backdrop of large-scale international sanctions are “largely exaggerated.” Despite the decline in cash revenues from exports in the oil and gas industry, opportunities for the grain and processing industries to increase exports of their products have increased recently, opens Words by Mikhail Khachaturyan RIA Novosti, Associate Professor of the Department of Management and Innovation at the Financial University under the Government of the Russian Federation.
To date, the amount of external public debt is 4,039 trillion rubles. The volume of borrowing in the domestic financial market of the Russian Federation was approximately 18,781 trillion. However, the first indicator has been steadily declining in recent years. For comparison, the article notes that in 2019 it owed foreign investors 3.395 trillion rubles, in 2020 – 4.189 trillion rubles, in 2021 – 4.435 trillion rubles.
“Negative forecasts about the budget seem very exaggerated. Yes, oil and gas revenues will fall, but the products of the grain export and processing industries are increasing. Rates are low, 1.0-2.5%, but stable,” said Khachaturyan.
March 7, the newspaper Vedomosti refers to the press service of the Ministry of Finance (MinFin). reportedThat the federal budget deficit of Russia in January-February 2023 was 2.58 trillion rubles. According to the results of the first two months of this year, the volume of revenue amounted to 3.163 billion rubles, expenses – about 5.74 trillion rubles.