Yury Kobzar19:42, 03/06/23
The hole in the budget of the Russian Federation is growing 6 times faster than planned.
The Kremlin’s money situation is rapidly deteriorating. In January and February, the Russian government almost completely implemented the annual plan for the state budget deficit.
This is evidenced by the March report of the Ministry of Finance of Russia .
At the same time, Russian budget expenditures increased by 52% compared to 2022 and, based on the results of the first two months, amounted to more than 5.7 trillion rubles.
Thus, the budget deficit reached 2.58 trillion rubles based on the results of the first two months of the current year. This is 90% of the plan for the entire current year – 2.925 trillion rubles.
At the same time, the Russian Ministry of Finance assures that it will be able to remain within the planned deficit at the end of the year. The ministry explains the rapid pace of its depletion at the beginning of the year by the fact that it was necessary to spend a lot of urgent advance expenses.
The situation in the Russian economy
According to Russian oligarch Oleg Deripaska , the model of “state capitalism” built by Vladimir Putin in Russia has collapsed. Already next year, the Russian state will run out of money.
On the anniversary of the Russian invasion of Ukraine, there was a record drop in the national currency of the Russian Federation . On February 24, the Russian currency fell to 75.6 rubles per dollar, which is the highest level since April 2022.
In an effort to circumvent Western sanctions, Russia has intensified trade with Asian and African countries. However, in some cases, this only leads to new problems. Russians sold a lot of oil to India for local rupees. But it turned out that it is possible to spend this money only in India itself , and to import from there is especially nothing.
(C)UNIAN 2023
I know I’m being a “downer” but I heard all the shit from the media and blogs last year that Putin was dropping dead and he’s still there. I hope this is true but I’m skeptical.
I’m with you, sir Cap.
“The hole in the budget of the Russian Federation is growing 6 times faster than planned.”
So, these morons can’t even plan a hole in the budget.
I realize that we have heard all of this before.
However, I believe that Russia is deep in the process of unraveling, economically, militarily and politically. This,I believe, will happen slowly at first , but the writing is on the wall, the signs are clear.
From your fingers to God’s ear