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Moscow, Sept. 10 (Petra) — Russia’s federal budget deficit reached
approximately $68 billion during the first eight months of the year,
accounting for roughly 2.5% of gross domestic product, driven by
elevated government spending, the Ministry of Finance announced on
Thursday.
Total federal expenditure from January to August reached
approximately $374 billion, marking a 14.7% increase year-on-year,
the ministry said in a statement.
The acceleration in government spending was largely attributed to
advance contracting procedures and the pre-financing of certain
contractual obligations, according to the ministry.
//Petra// AF
