Fiscal Policy

Russian Economy In 2016. Trends and Outlooks. Moscow. IEP. 2017, issue 38, pp. 45-52

10 Pages Posted: 17 Jul 2017

See all articles by Sergei Belev

Sergei Belev

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

Arseny Mamedov

Gaidar Institute for Economic Policy

Evgenia Fomina

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

Svetlana Patel

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

Date Written: July 7, 2017

Abstract

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 terms. The fiscal deficit of the enlarged government in 2016 was up compared to the level of the previous year (3.7% of GDP in 2016 against 3.4% of GDP in 2015). It should be noted that the fiscal deficit reported in 2015–2016 surpassed manifold its 2013-2014 volumes both in absolute and in relative terms.

Keywords: Russian economy, budgetary system, budget revenues, budget parameters, budget deficit

JEL Classification: H61, H62

Suggested Citation

Belev, Sergei and Mamedov, Arseny and Fomina, Evgenia and Patel, Svetlana, Fiscal Policy (July 7, 2017). Russian Economy In 2016. Trends and Outlooks. Moscow. IEP. 2017, issue 38, pp. 45-52, Available at SSRN: https://ssrn.com/abstract=2998508 or http://dx.doi.org/10.2139/ssrn.2998508

Sergei Belev

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research ( email )

Russia

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

Arseny Mamedov (Contact Author)

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

Evgenia Fomina

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

Svetlana Patel

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research ( email )

Vernadskogo Prospect 82
Moscow, 119571
Russia

Gaidar Institute for Economic Policy ( email )

3-5 Gazetny Lane
Moscow, 125009
Russia

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