Min: Russia’s budget deficit to decrease after 2% of GDP in 2023

MOSCOW, Sep 11 (PRIME) -- The structural deficit of Russia’s budget will start contracting from the level of 2% of gross domestic product (GDP) in 2023, and the budget would reach the budget rule’s parameters in 2025, Finance Minister Anton Siluanov said on Monday.

“A consistent trend of improvement of the budget situation allows us to forecast the budget with a deficit standing at the initially forecasted level of 2% of GDP this year. … The structural deficit will decrease gradually, and we will reach the budget rule’s parameters in 2025,” he said.

After the accelerated financing of budget spending at the beginning of the year, dynamics of spending stay at a normal level, he said.

The Russian authorities will maintain a responsible approach to finances in the coming years, and they will ensure unconditional financing of all the liabilities and priority goals, he added.

End