THE FEDERAL BUDGET IN Q1 2016: REVENUES AND EXPENDITURES CONTINUE DOWNWARD TREND

Arseny Mamedov and Elena Fomina
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Elena Fomina: Gaidar Institute for Economic Policy

Russian Economic Development, 2016, issue 6, 2-6

Abstract: During Q1 2016, the volume of the federal budget revenues shrank by 5.7 p.p. of GDP, in terms of expenditures the reduction hit 6.1 p.p. of GDP. Contraction of the revenue and expenditure part of the federal budget amounted to around 20% in real terms. Fall of revenues in Q1 2016 was due to contraction of non-oil and gas receipts in the volume of 4.2 p.p. of GDP. Regarding expenditure, noticeable reduction has taken place in financing of defense and national economy along growth of expenditures on social safety net to the level of Q1 2015. The federal budget defi cit has come to 3.7% of GDP against 4.2% of GDP posted in January through March 2015.

Keywords: Budget; Russian Economy (search for similar items in EconPapers)
JEL-codes: H0 H5 (search for similar items in EconPapers)
Date: 2016
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