Estimate Of Federal And Consolidate Budget Execution In January 2016

According to the data released by the Federal Treasury, at month-end January 2016 the federal budget revenue came to 20.6% of GDP down 5.3 p.p. of GDP against the first month of the previous year. In January 2016 against January 2015, contraction of the federal budget expenditure constituted 16.9 p.p. of GDP to 13.2% of GDP, which allowed to execute the federal budget with a surplus of 7.4% of GDP in January 2016 and with non-oil and gas surplus in the volume of 0.4% of GDP. During January–December 2015, the revenues of the consolidated budget of the RF subjects went up by 0.1 p.p. of GDP against twelve months of the previous year to 12.6% of GDP. Expenditure went down by 0.3 p.p. of GDP and came to 12.9% of GDP. The government meeting dedicated to the development of anti-crisis plan noted that during the period from the adoption of the federal budget drastic changes took place on the commodity and global financial markets, which posed considerable risks for the Russian economy and as a result additional challenges to the budget system sustainability.