Russia's 2022 budget deficit accounts for 2.3% of GDP: finance minister

MOSCOW - Russia's budget deficit accounted for 2.3 percent of the country's gross domestic product (GDP) in 2022, Russian Finance Minister Anton Siluanov said Tuesday.

"We increased borrowings on the financial markets, which led to a higher budget deficit at 3.3 trillion rubles ($47.4 billion) or 2.3 percent of the GDP," he said at a government meeting.

The minister added that total budget revenues amounted to almost 28 trillion rubles ($402.4 billion), which was 2.8 trillion rubles ($40.2 billion) more than that was originally planned.

"Despite the geopolitical situation, despite the restrictions and sanctions, we have fulfilled all of the planned tasks," he said.