According to the Federal Treasury, the federal budget for the first nine months of 2012 was executed with a surplus of Rb 637.8bn, or 1.5% of GDP. The sustained for several months federal budget surplus and the growth rate of non-oil and gas revenues provide grounds to suggest that as of the year outcome, there will be a surplus in the federal budget1. In early October, the decision of the Russian Ministry of Finance was disclosed on preparing one more package of amendments to the expenditure part of the federal budget of the current year with about Rb 300bn, which is expected to approve the zero deficit of the federal budget, the redistribution of budget expenditures within budget sections (about Rb 100bn) due to savings in some budget lines and the use of additional revenue from Savings Bank privatization2 (about Rb 148bn) and "Rosneftegaz" dividends (about Rb 50bn).
Volume (Year): (2012)
Issue (Month): 11 (October)
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