Russia’s Fiscal Policy in 2019

Igor Arlashkin, Natalia Barbashova, Sergey Belev, Alexander Deryugin, Ilya Sokolov and Tatiana Tishchenko
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Natalia Barbashova: Gaidar Institute for Economic Policy
Sergey Belev: Gaidar Institute for Economic Policy
Tatiana Tishchenko: Gaidar Institute for Economic Policy

Published Papers from Gaidar Institute for Economic Policy

Abstract: In 2019, revenues of the budgetary system of Russia according to the fresher data released by the Ministry of Finance of Russia in shares of GDP against the previous year remained flat amounting to 35.8 percent of GDP (Table 7), meanwhile in absolute terms they have increased by RUB 1,860 billion. Solely 39.4 percent of the revenues increment of the enlarged government budget (RUB 732.8 billion) have been secured by the federal budget and 62.4 percent (RUB 1,160.8 billion) by the increment of the consolidated budget of the RF subjects receipts. However, in the overall volume of the revenue part of the enlarged government budget a share of federal and subnational levels budget in 2019 against 2018 has changed insignificantly: a share of the federal budget has contracted from 52.1 to 51.5 percent and a share of the consolidated budget of the RF subjects has gone up from 33.2 to 34.6 percent. Dynamics of oil and gas revenues of the enlarged government budget is negative: contraction of receipts in 2019 in comparison with the previous year constituted 1.1 percentage points of GDP or RUB 770 billion, meanwhile non-oil and gas revenues went up in 2019 to the maximum for the 5-year period level coming to 28.3 percent of GDP up by 1.1 percentage points of GDP against the previous year.

Keywords: Russian economy; intergovernmental relations; fiscal policy; budgetary system (search for similar items in EconPapers)
JEL-codes: H77 (search for similar items in EconPapers)
Pages: 19 pages
Date: 2020, Revised 2020
New Economics Papers: this item is included in nep-cis and nep-tra
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