Russia's 2022 budget deficit accounts for 2.3% of GDP: Finance Minister - Moscow News

"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 per cent of the GDP," he said at a government meeting.

The Minister added that total budget revenues amounted to almost 28 trillion rubles, which was 2.8 trillion rubles more than that was originally planned, reports Xinhua news agency.

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