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The Federal Budget In Q1 2016: Revenues And Expenditures Continue Downward Trend

Author

Listed:
  • Mamedov Arseny

    (Gaidar Institute for Economic Policy)

  • Fomina Elena

    (Gaidar Institute for Economic Policy)

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.

Suggested Citation

  • Mamedov Arseny & Fomina Elena, 2016. "The Federal Budget In Q1 2016: Revenues And Expenditures Continue Downward Trend," Russian Economic Development, Gaidar Institute for Economic Policy, issue 6, pages 2-6, June.
    • Handle: RePEc:gai:recdev:recdev-2016-6-661
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    File URL: https://iep.ru/files/RePEc/gai/recdev/recdev-2016-6-661.pdf
    File Function: Revised version, 2016
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    More about this item

    Keywords

    Budget; Russian Economy;

    JEL classification:

    • H0 - Public Economics - - General
    • H5 - Public Economics - - National Government Expenditures and Related Policies

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