Moscow is poorer: Russia has almost completely spent its financial reserves through the war

According to journalists, the constant support of the military machine will lead to almost complete exhaustion of the financial reserves that the Russian Federation has accumulated in previous years. For example, this year, the Kremlin plans to take 3. 2 trillion rubles (about $ 55. 5 billion at the official rate of the Central Bank of the Russian Federation) from the National Welfare Fund (FNB) to cover the budget deficit. And in the budget for 2023 it is planned to spend another 1.

96 trillion rubles (about $ 33. 9 billion at the official rate of the Central Bank of the Russian Federation), in 2024 - another 644 billion (about $ 11. 156 billion at the official course of the CB of the Russian Federation). Currently, the government of Russia is allocating billions of rubles from the FNB. At the same time to replenish reserves, not to spend them in the Kremlin no earlier than 2025.

As of September 1, 2022, the liquid assets of the Fund of the National Welfare of the Russian Federation were estimated at 11. 87 trillion rubles against about 13. 66 trillion rubles at the beginning of the year. Recall that the budget-2023 in Ukraine provides that defense and security will be the main priority-it is planned to spend 50% of the total budget or 1 trillion 136 billion UAH. These costs, in particular, include salaries, financial support, purchase and repair of equipment.

Compared to 2022, defense costs should increase more than 4 times, said Shmigal. The second priority of expenditures will be social programs - payments of pensions, subsidies, expenses for medicine and education. For this purpose it is planned to allocate another 35% of the total budget - over UAH 800 billion. In particular, the Government proposes to increase targeted assistance and financing of the Pension Fund from the budget by more than UAH 30 billion.