The Kremlin's budget revenues increased by 59 percent, reaching 5 billion rubles. This is despite a concurrent increase in spending, especially for war purposes, by only 17 percent per year. The budget deficit reached 1.47 trillion rubles, or 0.8 percent of GDP – Quoted by the Russian newspaper Kommersant, citing the ministry’s announcement.
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It is difficult to believe this information, given the effects of the war. Russia was subjected to sanctions imposed by the European Union, the United States, and the Group of Seven. In addition, there are losses in the European gas and oil market and problems with payments in international trade.
Oil and gas revenues for the same period rose by 71.2 percent to 1.6 billion rubles. Revenues from other sources, especially food and agricultural products, amounted to 3.4 billion rubles, an increase of 53.5 percent. The data does not show the effects of Gazprom's loss of the gas market or the decline in Russian oil orders from India.
Miracles can also be seen on the expenditure side reported by the Russian Ministry of Finance. It increased by only 17.2%, which is incredible considering the enormous costs of the war. Russia's budget deficit in 2023 is expected to reach 3.2 trillion rubles, or 1.9% of GDP.
“The war became the driving force of the Russian economy”
Russia has the necessary financial, human, material and technical resources to continue fighting in Ukraine for at least two years, Lithuanian intelligence estimates in a special report.
War, the war industry, became the driving force of the Russian economyAnd attracting the country's financial, material and human resources at the expense of other areas of the economy – emphasizes Lithuanian intelligence.
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