The draft law “On the Federal Budget in 2019 and the 2020-2021 Planned Period” suggests a budget maneuver in favor of productive expenditures. The federal budget is to become the main source of growth of the Russian economy in the next three years. There are problems related to the budget...

In 2016, fiscal revenues of the enlarged government surpassed 2015 volumes both in absolute terms (by RUB 1,253bn) and in relative terms by 0.5 percentage point of GDP (see Table 6). Expenditures of the enlarged government went up by 0.8 percentage point of GDP and by RUB 1,581bn in absolute...

The year 2017 saw some notable changes in the main parameters of the execution of the general government budget of the Russian Federation: the budgetary system's revenue gained nearly 1 percentage point of GDP, while expenditure, on the contrary, lost 1.2 percentage points of GDP. Thus, 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...

The dynamics of the main parameters of the federal budget in January-September 2019 compared to the same period of the previous year showed that: • there was a stabilization of revenues at the level of 18.8 p.p. of GDP; having said that, the reduction in the level of oil and gas revenues was...

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 budget system revenues of the Russian Federation in 2020 shrank by Rb3.4 trillion in real terms compared to the previous year, or by 8.6% at constant prices (Table 6) on the back of reduced oil and gas revenues. For this reason, the proportion of oil and gas revenues in the total budget...

At the period-end of Q1 2020, the federal budget ran a slight surplus, however it was a temporary result because oil and gas revenues go into the budget in a timely manner and they record a downturn against Q1 2019. Non-oil and gas revenues although went up but that was due to the fact that they...