Russia faces $39 billion budget shortfall in 2020 from lower oil, gas revenues The federal budget is a major state financial plan for the fiscal year, which has the force of law after its approval by the Russian parliament and signed into law by the President of Russia . Russia recorded a government budget deficit of 1777.85 RUB Billion in September of 2020. source: Federal Treasury Of Russia. But with the recent slide in the price of crude, Russia’s state budget is expected to come up $27.7 billion short of February’s estimates. — SIPRI (@SIPRIorg) April 27, 2020 Russia now ranks fourth in the world for defense spending, with $65.1 billion in expenditures in 2019 compared to … Federal budget deficit and its implications for Russia’s economy November 7, 2020, 10:08 November 6, 2020 The Russian State Duma has approved draft federal budget for 2020 and the planned period of 2021-2021 in the final reading. Though controversial, Moscow Government Budget Value in Russia averaged 389.26 RUB Billion from 1998 until 2020, reaching an all time high of 3834.60 RUB Billion in October of 2008 and a record low of -2967.30 RUB Billion in December of 2016. As early as last month Moscow was anticipating a budget surplus of just under one percent of GDP after drawing up the 2020-2022 federal budget, having priced oil at $42.40 per barrel. Under its new federal budget, Russia is considering spending up to 9 percent of its GDP on direct support measures to help Russia’s heavily sanctioned and now pandemic-rattled economy recover. The Federal budget of Russia (Russian: Федеральный бюджет России) is the leading element of the Budget system of Russia. According to the draft document, the …
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