State budget in January 2013

Tatiana Tishchenko
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Tatiana Tishchenko: Gaidar Institute for Economic Policy
Authors registered in the RePEc Author Service: Tatiana Tishchenko

Russian Economic Development, 2013, issue 3, 27-29

Abstract: According to tentative estimates of the Ministry of Finance of Russia, the federal budget for January 2013 was executed with a deficit of 1.8% of GDP, while in the same period of the last year the federal budget was executed with a surplus of 0.7% of GDP. A significant difference in the results of the budget execution in January as compared with January 2012 is a consequence of the introduction of fiscal rules, according to which a part of the oil and gas revenue is addressed to the Reserve Fund. Therefore, despite the stabilization of the global oil prices, oil and gas revenues to the federal budget in January 2013 have decreased by 3.5 p.p. of GDP as compared with January last year.

Keywords: State; budget (search for similar items in EconPapers)
JEL-codes: H20 H50 H61 H70 (search for similar items in EconPapers)
Date: 2013
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