Consolidated Budget Consolidated Budget for 2020 was recorded in the history of the Russian Federation since the early 1990s. Such an assessment was given by the leading researcher at the Center for the Development of NIU HSE Andrei Chernyavsky, RBC reports.
We are talking about an expanded sense of government: federal budget, regions with municipalities plus three extrabudgetary fund.
Advanced government spent in Russia in 2020 reached 42.15 trillion rubles, of which 54 percent had to be paid to the expenses of the federal budget (in 2019 – 49 percent). At the same time, in a percentage of GDP, expanded government spending in 2020 amounted to 39.5 percent of GDP – almost 5 pp. Five more than an average of 2011-2019. The relative expenses of the entire budget system in the history of the Russian Federation were only above once – in the crisis of 2009 (41.4 percent of GDP), then Russian GDP fell by 7.8 percent.
Edition notes that anti-crisis support for the economy increased the expenses of the state almost up to 40 percent of GDP, which is a record level.
Earlier, Russian Prime Minister Mikhail Mishustine dismissed the first deputy minister of Finance Tatiana Nesterenko. The dismissal of the budget curator occurs against the background of problems with its execution. Against the background of possible sanctions, the Ministry of Finance began to experience difficulties with the buildup of the public debt, because of which the head of the Ministry Anton Siluanov did not rule out that the Central Bank would have to include a “printing machine” and provide additional liquidity. Otherwise, it will not be possible to finance the costs of national projects.