Russian economy – Moscow suffers from budget deficit due to war – UNIAN
Most of the financial resources of the Russian Federation were aimed at continuing a full-scale war against Ukraine.
In Russia, over the 10 months of 2024, federal budget expenditures exceeded revenues by 220 billion rubles, or 0.1% of GDP. Nevertheless, Moscow foresaw such a scenario and its impact on the country’s economy.
According to The Moscow Times, most of Russia's financial resources are directed to the defense sector to continue a full-scale war against Ukraine.
According to preliminary data from the Ministry of Finance of the Russian Federation, for January-September 2024, the federal budget was executed with a surplus of 169 billion rubles, or 0.1% of GDP, the publication noted.
Over the 10 months of last year, the Russian budget deficit amounted to 1.05 trillion rubles, or 0.6% of GDP….
