The Federal Budget in Q1 2016: Revenues and Expenditures Continue Downward Trend

Russian Economic Developments. Moscow, 2016, pp. 2-6

5 Pages Posted: 28 Jun 2016 Last revised: 11 Apr 2017

See all articles by Arseny Mamedov

Arseny Mamedov

Gaidar Institute for Economic Policy

Evgenia Fomina

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration (RANEPA)

Date Written: June 27, 2016

Abstract

During Q1 2016, the volume of the federal budget revenues shrank by 5.7 p.p. of GDP, in terms of expenditures the reduction hit 6.1 p.p. of GDP. Contraction of the revenue and expenditure part of the federal budget amounted to around 20% in real terms. Fall of revenues in Q1 2016 was due to contraction of non-oil and gas receipts in the volume of 4.2 p.p. of GDP. Regarding expenditure, noticeable reduction has taken place in financing of defense and national economy along growth of expenditures on social safety net to the level of Q1 2015. The federal budget deficit has come to 3.7% of GDP against 4.2% of GDP posted in January through March 2015.

Keywords: Russian economy, budget

JEL Classification: H0, H5

Suggested Citation

Mamedov, Arseny and Fomina, Evgenia, The Federal Budget in Q1 2016: Revenues and Expenditures Continue Downward Trend (June 27, 2016). Russian Economic Developments. Moscow, 2016, pp. 2-6, Available at SSRN: https://ssrn.com/abstract=2801025 or http://dx.doi.org/10.2139/ssrn.2801025

Arseny Mamedov

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

Evgenia Fomina (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny Lane 3-5
Profsouyznaya street
Moscow, 117485
Russia

Russian Presidential Academy of National Economy and Public Administration (RANEPA) ( email )

Vernadskogo Prospect 82
Moscow, 119571
Russia

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