The federal budget of the Russian Federation in January-November 2022, according to preliminary data, was executed with a surplus of 557.023 billion rubles, according to the Ministry of Finance.

In January-September, according to revised data announced by Russian Finance Minister Anton Siluanov, the budget was executed with a surplus of about 200 billion rubles, or 0.2% of GDP, the preliminary estimate was – 54.7 billion rubles. In January-October, the surplus was tentatively estimated at Br128.412 billion, so in October the deficit could be about Br72 billion.

Since the ministry has recently published only part of the data on budget execution and their later refinements, the disclosed accumulated figures from the beginning of the year do not give a full picture of the November results. The Federal Treasury has also since some time stopped publishing its data on the execution of budgets of different levels.

If we compare the results of 11 months with the preliminary results of January-October, it turns out that in the penultimate month of the year budget execution not only did not come close to the current forecast for the year (deficit of 2% of GDP), but also significantly moved away from it.

Budget revenues amounted to Br24 trillion 779.77 billion in 11 months, or 99% of the total revenues for the year; expenditures – Br24 trillion 222.75 billion, or 102.2% of the budget statement, and 83.4% of the revised one.

Oil and gas budget revenues amounted to Br10 trillion 654.7 billion in January-November (111.7% of the annual figures), while non-oil and gas revenues – Br14 trillion 125.08 billion (91.3%).

The primary budget surplus for the period was at Br1.786 trillion.

Interest expenditures amounted to Br1.229 trillion, or 87.5%, while non-interest expenditures amounted to Br22.994 trillion, or 103.2%.

In January-November, the Federal Tax Service administered Br17.281 trillion, or 103% of the projected figures for the year, the Federal Customs Service – Br5.627 trillion, or 90.4%, other federal agencies – Br1.872 trillion, or 93.1%.

The RF Ministry of Finance has stopped publishing a number of data on budget execution since June, explaining it by minimizing the risks of additional sanctions. Among other things, the reporting now lacks data on budget expenditures in specific areas, updated figures on budget execution in previous months, the balance of sources of internal and external financing of the deficit.
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