In Russian regions, budget revenues increased by 13.5%

In 2023, the additional budget stimulus amounted to 3 trillion rubles and was financed from non-oil and gas revenues. The Ministry of Finance of the Russian Federation reports this on its Telegram channel.

Russian Finance Minister Anton Siluanov presented a report on the execution of the Russian federal budget over the past year at a plenary meeting of the State Duma. The head of the Ministry of Finance noted that in 2023, the government promptly responded to the needs of citizens and the economy and maintained the country’s defense capability, redirecting allocations to priority needs.

Anton Siluanov presented the main parameters of budget execution. According to the report, income in the country increased by 3 trillion rubles, the deficit amounted to 1.9% of GDP—less than the planned 2%, the level of public debt was less than 15% of GDP and is at a stable level, and the volume of the national welfare fund amounted to almost 12 trillion rubles, of which free cash—more than 5 trillion rubles.

As for the fulfillment of social obligations, social payments, and benefits, maternity capital was indexed to actual inflation, insurance pensions were increased for more than 30 million people, a monthly benefit was introduced in connection with the birth and upbringing of a child - more than 10 million families receive it, by 0.5 trillion rubles, the “children’s budget” was increased, which amounted to almost 3 trillion rubles, 430 thousand families with children improved their living conditions thanks to preferential mortgages, more than 200 thousand people were resettled from emergency housing.

Anton Siluanov also noted regional budgets. Consolidated budget revenues increased by 13.5% compared to 2022 levels. Growth was reported in 69 constituent entities of the Russian Federation. The volume of capital investments in regional budgets increased by almost 6%. In addition, the regional budgets maintain a liquidity reserve - the remaining funds amounted to 3.4 trillion rubles.

Author: Eduard Kuskarbekov