Russia's budget deficit for 2023 is expected to come in at around 2.9 trillion roubles ($31.6 billion), or at about 1.5% of gross domestic product, Finance Minister Anton Siluanov told state television on Tuesday.

Siluanov said both spending and revenue ended up being higher than forecast, but the balance remained the same as projected.

Relative to GDP, the budget deficit had been projected at 2% but is now lower because the Russian economy has grown faster than expected, he said.

Extra revenue came from items such as the new windfall tax on large companies which has alone netted the budget 315 billion roubles ($3.44 billion).

Siluanov said Russia would tap it sovereign National Welfare Fund for the same 2.9 trillion roubles this year, while the fund will be replenished for 1 trillion roubles. ($1 = 91.6350 roubles) (Reporting by Reuters Editing by Andrew Osborn and Angus MacSwan)