The Execution of the Federal Budget for January-October 2016: Shrinkage of the Oil and Gas Deficit

Russian Economic Developments. Moscow, 2016, No. 12, pp. 6-11

6 Pages Posted: 23 Dec 2016 Last revised: 10 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: December 23, 2016

Abstract

As demonstrated by reported monthly performance data, the RF federal budget for the first 10 months of 2016 was executed with a deficit of -2.3% of GDP (vs. -1.0% of GDP over the same period of 2015). By the year-end of 20162, the plunge of total federal budget revenue is not expected to exceed 0.8 p.p. of GDP (as compared with 2015), this result to be secured by an increased non-oil and gas revenue component. The year-end movement pattern of expenditure in 2016 is going to be exactly reverse: its amount is expected to increase by 0.5 p.p. of GDP, due in the main to the additional allocation, in November, of Rb 739.7bn to national defense.

Keywords: Russian economy, federal budget, budget revenue

JEL Classification: H0, H5

Suggested Citation

Mamedov, Arseny and Fomina, Evgenia, The Execution of the Federal Budget for January-October 2016: Shrinkage of the Oil and Gas Deficit (December 23, 2016). Russian Economic Developments. Moscow, 2016, No. 12, pp. 6-11, Available at SSRN: https://ssrn.com/abstract=2889461 or http://dx.doi.org/10.2139/ssrn.2889461

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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