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Russia’s responsibilities to conduct monetary policy
operations and maintain budget accounts for the Russian budget system and accounts of
credit institutions located in regions
Budget Funds
in Accounts of Credit Institutions
(millions of rubles)
of which
Total regional and local
federal budget funds other budget funds extra-budgetary funds
budget
release forecasts of market
labour indicators, the exchange rate, external conditions, the budget, and households’
incomes and savings (Chart 11). The detailed list of indicators
484
11.05.2023
rate and competitiveness of the economy • May 2017
On the impact of budget deficit growth on the Bank of Russia key rate • July 2016
Money
3% MoM SA in January, reflecting, among other things, extensive budget
spending.7
The budget continues to contribute heavily to money supply growth acceleration, but
486
28.04.2023
path of the federal budget and the fiscal system as a whole. In case of a further expansion in the budget deficit, tighter monetary policy
the structural transformation of the
No. 16 economy
8 December
2022 Regional budgets: 2022 results and 2023 plans
2022 harvesting campaign: preliminary results and impact
488
28.04.2023
of fiscal policy. Our baseline scenario relies on the current budget targets. If the budget deficit increases further over the medium-term horizon, we might need
489
28.04.2023
path of the federal budget and the fiscal system as a whole. In case of a further expansion in the budget deficit, tighter monetary policy
As soon as budget funds were accepted and the FT placed its funds, RUONIA continued to
go down.
In March, the budget received large amounts