In February, budget expenditures were even higher than in January.

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Operational data on the execution of the Russian budget by February 16 pointed not just to a faster growth in spending, but to its acceleration by January, drew the attention of the MMI economic channel.

• Budget revenues since the beginning of the year amounted to 951 billion rubles, expenditures - 4.92 trillion rubles, and the deficit, therefore, is 3.97 trillion rubles. On average, this gives expenses of 105 billion rubles a day, which is extrapolated to an excess of expenses over planned for the year by 9 trillion rubles, instead of the estimated 4.3 trillion rubles.
• If we count only in February, 113 billion rubles a day are already being spent, which gives an excess of 11 trillion rubles.
• The extrapolation of non-linear indicators for the whole year for one and a half months should be treated with caution, nevertheless, the trend is obvious. At the beginning of the year, budget expenditures were always restrained, and it is unlikely that only the accelerated advance of contracts by the Ministry of Finance in the current year could have led to such a result.
• “The situation with the budget, in our opinion, has become the main pro-inflationary risk for the economy. This is also a risk for the OFZ market and the ruble,” states the channel.
• We wrote about how the authorities came for the missing money to business - both oil and non-oil and gas.

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