Russian Finance Minister Anton Siluanov stated that by the close of 2023, the federal budget’s revenues and expenditures will surpass the figures defined in the law. The agency Interfax reported these remarks.
According to the minister, both income and spending came in higher than earlier projections. As revenues grew, spending also rose, leading to a situation where oil and natural gas revenues contributed a significant increase of 3.1 trillion rubles. In 2023, total expenditures reached 32.2 trillion rubles, compared with an approved plan of 29 trillion rubles.
Siluanov explained that the overall outlay rose as part of a restructuring process of expenses, which is described as a normal development in budgeting terms.
The minister underscored that investment and social spending in the country have remained largely intact. Current liabilities have not fallen by 90 percent, and the optimization of certain liabilities has not been substantial.
Earlier, Siluanov indicated that by the end of 2023 the Russian federal budget did not show an increased reliance on oil and gas revenues relative to previous years, a point noted in earlier statements. The prime minister also cautioned against excessive optimism in economic projections.