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Russia's fiscal policy in 2023

Author

Listed:
  • Igor Arlashkin

    (RANEPA)

  • Konstantin Vekerle

    (Gaidar Institute for Economic Policy)

  • Alexander Deryugin

    (Gaidar Institute for Economic Policy)

  • Elisey Leonov

    (RANEPA)

  • Evgeniy Matveev

    (RANEPA)

  • Ilya Sokolov

    (Gaidar Institute for Economic Policy)

  • Tatiana Tischenko

    (RANEPA)

Abstract

Revenues of the Extended Government Budget (hereinafter referred to as the EGB) in 2023 relative to the previous year decreased by 0.1 pp. GDP to 34.5% of GDP. In recent years, total revenues as a share of GDP have shown high stability, fluctuating slightly around the level of 35% of GDP. Deviations of the parameters of the actual fulfillment of the EGB revenues in 2023 from those forecast by the Ministry of Finance of Russia are insignificant, which allows us to draw conclusions about a fairly good accuracy of budget forecasting, as well as about the high quality of administration of state revenues.

Suggested Citation

  • Igor Arlashkin & Konstantin Vekerle & Alexander Deryugin & Elisey Leonov & Evgeniy Matveev & Ilya Sokolov & Tatiana Tischenko, 2024. "Russia's fiscal policy in 2023," Published Papers ppaper-2024-1323, Gaidar Institute for Economic Policy, revised 2024.
    • Handle: RePEc:gai:ppaper:ppaper-2024-1323
    as

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    File URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2024-1323.pdf
    File Function: Revised Version, 2024
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    More about this item

    Keywords

    Russian economy; intergovernmental relations; fiscal policy; budget system; revenues; expenditures; Bank of Russia;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H68 - Public Economics - - National Budget, Deficit, and Debt - - - Forecasts of Budgets, Deficits, and Debt
    • H7 - Public Economics - - State and Local Government; Intergovernmental Relations
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism

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