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Russia’S State Budget In January-May 2015

Author

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  • Tatiana Tishchenko

    (Gaidar Institute for Economic Policy)

Abstract

According to the recent data released by the Federal Treasury, within January–May 2015 the federal budget revenues contracted by 2.2 p.p. of GDP, and the expenses went up by 3.3 p.p. of GDP on the same period of the previous year. Revenues and expenses of the consolidated budget of the subjects of the Russian Federation over January–April 2015 went up 1.1 and 0.3 p.p. of GDP, respectively. The amount of the federal budget defi cit for the first fi ve months of 2015 constituted 3.7% of GDP, while the consolidated budget of RF subjects over January–April of 2015 has been executed with a surplus of 2.4% of GDP. On 25 June 2015, The RF Government approved in principle basic parameters of the 2016 Federal Budget and planned period of 2017–2018 taking account of latest trends in the GDP movement and oil prices, long-term risks and challenges including linked to structural and demographic imbalances in the economy.

Suggested Citation

  • Tatiana Tishchenko, 2015. "Russia’S State Budget In January-May 2015," Russian Economic Development, Gaidar Institute for Economic Policy, issue 7, pages 14-19, July.
    • Handle: RePEc:gai:recdev:553
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    More about this item

    Keywords

    State budget;

    JEL classification:

    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H70 - Public Economics - - State and Local Government; Intergovernmental Relations - - - General

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