The federal budget deficit for five months amounted to 3.4 trillion rubles
The deficit of the federal budget for May has grown by 0.2 trillion rubles. And according to the results of five months amounted to 3.4 trillion rubles, or the same as in April, 1.5% of GDP, the Ministry of Finance said. The budget is still experiencing difficulties due to the reduction of oil and gas revenues, but due to the growth of other revenues relative to last year, it is still in a small plus. Gosquito expenses are growing faster than income, but the dynamics of this increase slows down.
The federal budget revenues according to the results of January – May 2025 amounted to 14.7 trillion rubles, expenses – 18.1 trillion rubles, the Ministry of Finance said on June 10. As a result, the budget deficit developed in the amount of 3.4 trillion rubles, or 1.5% of GDP. According to the results of four months as a percentage of the size of the economy, it was the same – 1.5% of GDP. In rubles, the indicator for May added 0.2 trillion rubles, that is, the past month was also scarce (in the plus this year there was only March).
The revenue part of the budget, according to the results of five months relative to the same period last year, increased by 3.1%. By this modest increase, not exceeding the size of inflation, the budget owes non -Neneftegaz revenues, which added 12.3% a year to the year, amounting to 10.5 trillion rubles.
Tax revenues from the production and sales of oil and gas fell by 14.4%, to 4.2 trillion rubles. As before, this is explained, first of all, a significant decrease in Urals oil price – in April it was $ 54.8 against $ 75 a year earlier (we are talking about April, because companies in May calculated taxes on the price of oil and ruble exchange rate in the previous month; more about oil and gas revenues; See “Kommersant” from June 5).
The expenses of the federal budget in January-May 2025 increased significantly more by 2024 than income-by 20.7%. However, the Ministry of Finance emphasizes that the dynamics of expending growth slows down.
After accelerated financing of expenses in January (immediately plus 64.1% a year for the year), related to the operational conclusion of contracts and advances on “separate contractual expenses”, at the February -Mai increase was already noticeably smaller – 11.9%.
It should be noted that the increase in expenses has already been taken into account in adopted by the State Duma on Tuesday, June 10, in the second reading of the government bill on the correction of the current budget law. The budget rule allows you to increase expenses when additional Neneftegas revenues appear, even if the total income of state of state is reduced. This gave the government the opportunity to add money for expenses – totaling 0.8 trillion rubles, which will go to subsidize preferential mortgage programs, for the needs of the agricultural sector, to index “tied” to high inflation of payments, as well as on military spending.
As a result, in the new State Duma approved by the State Duma of the budget-2025, its expenditure part grows by 2%-from 41.5 trillion to 42.3 trillion rubles, and the revenue, on the contrary, decreases from 40.3 trillion to 38.5 trillion, or by 4.5%. Accordingly, it is noticeable, almost three times, the planned deficiency increases – from 1.2 trillion rubles, or 0.5% of GDP, up to 3.8 trillion rubles, or 1.7% of GDP (more about changing the budget parameters, see “Kommersant” for May 29).
