OREANDA-NEWS  The Ministry of Finance raised the budget deficit estimate by 525 billion rubles. The revision of the assessment of the parameters of filling the federal treasury is reported by TASS.

According to the bill proposed by the department, the budget deficit will amount to 2.12 trillion rubles or 1.1 percent of GDP. Treasury spending will increase to 37.2 trillion rubles.

In April 2024, during the plenary meeting of the International Monetary and Financial Committee, the head of the Russian Ministry of Finance Anton Siluanov estimated the growth rate of the country's economy at the level of 2023 - 3.6 percent. He also announced a forecast for a budget deficit of one percent of GDP. The national debt remains at a persistently low level of about 15 percent of GDP, the Finance Minister stressed.

Earlier, the IMF explained the high growth rates of the Russian economy. The main factors were the stable continuation of oil exports, the increase in government spending, the growth of private consumption in the domestic market, as well as an increase in corporate investments from state-owned enterprises.