Thread .Budget disaster in Russia !.

Thread. The banking crisis in Russia is gaining momentum.

The balances in the Russian treasury accounts at the beginning of the month are at their lowest level since the beginning of the year. The treasury accounts are the Government's purse from which all expenses, salaries, pensions, and military expenses are financed.

Gasoline prices continue to rise in Russia.Another refinery was destroyed today. In total, 3 refineries have been destroyed recently. And some refineries that were damaged earlier still cannot be restored.

All civilian industries are in recession, factories are reducing their working week. They've had enough! Soon all this will turn into a banking crisis and the collapse of the financial system!.9/.

The Russian economy is falling apart. All the reserves that were exhausted. Only military factories are working on government orders. But the budget is no longer receiving anything from this. 8/.

The huge growth of expenses, with zero growth rates of income, has already led to catastrophic results of budget execution for 7 months. If expenses are reduced a little, then income will collapse even more because the budget impulse will disappear. 7/.

Expenses, unlike income, maintain a high growth rate; over the last 3 months, expenses have been higher than last year by an average of 25%.6/

The rate of income growth has remained zero for the last 3 months, and this is with inflation at 10%, which means that in real terms there is a recession.5/

July (y/y).Revenues: +3%.Oil and gas revenues: -27%.NON-oil and gas revenues: +23%.Expenses: +24%.Deficit: (-1.186 trillion rubles).4/

For 7 months y/y.Budget revenues: +2.8% y/y.Oil and gas revenues: -18.5% y/y.NON-oil and gas revenues +14% y/y.Expenses +20.8% y/y.Deficit: (-4879 vs. -1098 (2024) ).3/

According to the results of 7 months, the deficit is 4.879 trillion rubles.This is more than in the entire history of Russia, and this is a deficit for only 7 months. At this rate, the deficit by the end of the year could be 9-10 trillion rub !.This is 110-120 billion dollars.2/

Budget disaster in Russia !. Federal budget execution data for 7 months released. July deficit - 1.186 trillion rubles.January-July deficit - 4.879 trillion rubles.(January-July deficit.24 - 1098 trillion rubles).1/

The rate of withdrawal of money from the Fund will increase sharply, and the Fund will simply become empty. And all this against the backdrop of increasing US sanctions pressure. All this will end in a large-scale banking crisis. 13/.

Now the most interesting part will begin. Due to the closure of factories and the reduction of salaries, there will be an outflow from banks, problems with liquidity, and at the same time an even greater deterioration of credit portfolios.12/.

Another funny moment. The official statement said that deposits are being placed in banks to finance the high-speed highway St. Petersburg-Moscow, but there is not even a project ready for it! LOL.11/.

When I see another news story in the media about a meeting between bankers and Putin, I understand that they have come to ask for money again. 10/.

The situation at VEB is no less funny and critical. In July, the bank received 135 billion rubles, and on August 6, the head of the board ran to Putin to ask for more money. 9/.

The situation in VTB is reminiscent of a phantasmagoria. The bank asks the Fund for money to pay dividends to the state, but this money is still not enough, and the bank plans to conduct an additional issue for 90 billion rubles. Complete nonsense. Complete madness. 8/.

Bankers are constantly running to Putin and asking for money. The heads of VTB and VEB especially like to do this. In my opinion, the situation in these banks is the worst. Although VTB has already received 292 billion rubles, they really need 1-2 trillion rubles. 7/.