Russia's 2023 budget deficit totalled 1.9% of GDP after late spending jump

Russia recorded a budget deficit of 1.9% of gross domestic product (GDP) in 2023, the finance ministry said on Tuesday, a slight improvement on 2022.

According to the ministry's preliminary estimate, the overall deficit stood at 3.24 trillion roubles ($36.5 billion), with total revenues increasing 4.7% year on year to 29.12 trillion roubles and spending climbing by 4% to 32.36 trillion roubles. ($1 = 88.7225 roubles)

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