Russian Economy In 2016. Trends and Outlooks. Moscow. IEP. 2017, issue 38, pp. 45-52
10 Pages Posted: 17 Jul 2017
Date Written: July 7, 2017
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: Suggested Citation