Russian budget deficit may exceed 5 trillion rubles

«There is no money — but you hold on and stay in a good mood!»

This year, Russia’s budget deficit may reach 5.6 trillion rubles. This forecast is based on an oil price of $20 per barrel. The budget of the Russian Federation for the current year is based on the price of $57.7 per barrel of oil, with a surplus of 900 billion rubles.

Low doctor salaries
Low doctor salaries

Thus, the global crisis, aggravated by the coronavirus epidemic, has led to the fact that the Russian budget has lost a significant part of its income. Meanwhile, budget expenditures this year only threaten to grow: huge amounts of money have been allocated to support large businesses and banks. The coronavirus infection control measures also require extra funds. The authorities are already taking money from the National Welfare Fund to cover all costs.

However, it is obvious that it is impossible to endlessly wear various funds out, therefore, authorities and businesses will start solving financial problems in the old favorite way — by robbing the workers. There are many ways to do this: increasing fines, non-payment of salaries, increasing various tax rates, payments for housing and communal services and, most important and effective, inflation. Inevitably, expenses on education, social services, and even healthcare will be reduced. In the latter case, authorities, having increased funding for measures to combat the virus, will reduce funding for other areas of medical care.

Thus, the main victims of the crisis will be workers. Under these conditions, in order to improve their situation, workers need to fight for their interests, to fight against the arbitrariness of the capitalists, officials and authorities. Only by a long and persistent struggle will they be able to defend their rights.