The Execution of the Federal Budget for 2016

Monitoring of Russia's Economic Outlook. Moscow, pp. 6-10, 2017

5 Pages Posted: 3 Apr 2017 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: March 25, 2017

Abstract

The RF federal budget for 2016 was executed with a deficit of 3.4% of GDP. This figure is significantly higher that the corresponding index for 2015 (2.4% of GDP), but still lower than the projection in the most recent version of the Law on the Federal Budget for 2016 (3.7% of GDP). The plunge of total federal budget revenue did not exceed 0.7 p.p. of GDP (as compared with 2015) due to the increased non-oil and gas revenue component. The year-end expenditure for 2016 jumped by 0.3 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

JEL Classification: H61, H62

Suggested Citation

Mamedov, Arseny and Fomina, Evgenia, The Execution of the Federal Budget for 2016 (March 25, 2017). Monitoring of Russia's Economic Outlook. Moscow, pp. 6-10, 2017, Available at SSRN: https://ssrn.com/abstract=2944593 or http://dx.doi.org/10.2139/ssrn.2944593

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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