Russia has completed the six months with a budget deficit of nearly a trillion rubles

the Federal budget Deficit of Russia for January—June 2020 amounted to 955,881 billion rubles, follows from the data of the Ministry of Finance.

according to the Ministry of Finance, for the first half of this year, the budget revenues amounted to 9 trillion 91 billion 484,1 million roubles, and expenses — 10 trln 47 billion 365,3 million rubles.

In January—June, the Federal tax service has collected in the budget 5,363 trillion rubles, the Federal customs service transferred 2,042 trillion rubles. Other agencies added to the budget at 1.686 trillion rubles.

the volume of funds of the national welfare Fund (NWF) in ruble equivalent at 1 June 2020 reached 12,139 trillion rubles.

Last year Russia ended with a Federal budget surplus of 1 trillion 967,6 billion (1.8% of GDP).

Recall, back in late April, close to the Cabinet the source of the newspaper “Izvestiya” predicted that by the end of this year, the budget deficit could jump to approximately 5.6 trillion. According to him, the base for calculating the revenues the oil price will be $20 per barrel. The expected level of revenues 15.2 trillion rubles, it is planned to spend of 20.8 trillion. Thus, the budget deficit will be at 5.6 trillion rubles instead of the previously estimated surplus of 900 billion rubles.

In this high-ranking Federal official then confirmed that the Ministry of Finance of the Russian Federation in its calculations really focuses on the oil price of $20 per barrel. Other indicators he called close to the main script.

let’s Add that the Russian economy in February—March 2020 was under the powerful impact of two negative factors — the rapid spread of the pandemic coronavirus infection COVID-19 and its deleterious effect on the global economy and collapse in oil prices. Against this background, the rouble significantly depreciated against the dollar and the Euro. Reacting to the situation, the government and the Bank of Russia adopted several packages of measures to support the economy and citizens.

may 11, Russian President Vladimir Putin announced the end of may 12, a single period of days off, entered March 30, in the fight against COVID-19.

on 2 June Prime Minister Mikhail Mishustin reported on the nationwide state plan for the recovery of the Russian economy in 2020-2021 years, noting in particular that the cost of the plan will amount to about 5 trillion roubles. June 19, Putin was sent a revised draft of the national plan.

July 2, Deputy Minister of Finance of the Russian Federation Vladimir Kolychev said that the total cost of the measures (the bailout package), aimed at combating the spread of coronavirus infection in Russia and mitigating economic impacts from restrictions imposed, estimated to be worth about 4 trillion rubles. According to him, the main focus of the budget measures were made on several fronts: strengthening health systems, supporting citizens and businesses, the balancing of regional budgets.

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