The federal budget for 9 months of 2022 was executed with a surplus of Rb 54.7 bn. The dynamics of revenues is slowing down, with the growth of rental revenues by 1.4 p.p. against the same period of the previous year and does not compensate for the fall of non-oil and gas revenues by 2.0 p.p. of...

According to the results of H1 2018, federal budget revenues increased by 1.8 p.p. of GDP as compared to the relevant period of the previous year, while the share of oil and gas revenues rose from 40.4% to 45.6%. On the contrary, expenditures in relation to GDP fell by 1.2 p.p. As a result, in...

In Q1 2019, the federal budget revenues moved up by 0.3 p.p. of GDP against the same period of 2018 due to the rise of oil and gas revenues. Budget surplus constituted 2.2% of GDP. Overall, the dynamic of the main parameters of the federal budget is positive, despite the debt growth, risks of...

We analyze dynamic of budget receipts, federal budget expenditures and assets in the National Wealth Fund for January-April 2020. Over the period, the federal budget was executed with a surplus, however one should remember that oil and gas revenues reflect the changes on the market the same...

According to the results of H1 2021, the federal budget revenues exceeded the level of 2019, hitting 20.9% of GDP. The main contribution to this outcome was made by an increase in VAT receipts, primarily due to an increase in the consumption of nonfood products with a slight increase in the...

According to the preliminary data released by the Finance Ministry of Russia, the federal budget revenues constituted Rb18.7 trillion against the projected Rb20.6 trillion for 2020, and expenditures – Rb22.8 trillion against planned Rb19.7 trillion. Such difference in the state budget...

At nine months-end 2020, the federal budget revenues contracted by Rb1,818.6 bn and expenditures went up by Rb3,040.9 bn against the same period of the previous year; the budget has been executed with a deficit to the tune of Rb1,773.3 bn. Contraction of revenues and ramping up of expenditures...

The federal budget revenues by H1 2019-end moved up by 0.4 p.p. of GDP against the same period of the previous year, first of all, due to increased VAT rate from 18 to 20%. Simultaneously, expenditures have contracted by 0.9 p.p. of GDP. As a result, the federal budget was executed with surplus...

In 2017, dynamics of the federal budget's main parameters are characterized by growth of 0.7 p.p. of GDP in the revenues and a reduction of 1.3 p.p. of GDP in the expenditures as compared to the previous year. This permitted to cut the budget deficit to 1.4% of GDP. The existing global prices of...

In 2018, the federal budget revenues moved up by 2.4 p.p. of GDP against 2017 not least because of the oil and gas revenues which grew by 2.2 p.p. of GDP and the expenditures contracted by 1.7 p.p. of GDP compared to the previous year. The federal budget limitation due to the budgetary rules has...