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Russia’S State Budget In January-July 2015

Author

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  • Tatiana Tishchenko

    (Gaidar Institute for Economic Policy)

Abstract

According to the Federal Treasury data, over January–July 2015, the federal budget revenues contracted 1.3 p.p. of GDP, and expenditures went up 3.3 p.p. of GDP on the same period of the previous year. Revenues and expenditures of the consolidated budgets of the constituents of the Russian Federation over six month of the current year up 1.0 and 0.3 p.p. of GDP on six months of the previous year, respectively. The federal budget defi cit for January–July 2015 constituted 2.8% of GDP, which is down 4.4 p.p. of GDP of the federal budget balance over seven months last year. Consolidated budget of the subjects of the Russian Federation by the period-end for six months 2015 was executed with a surplus of 1.0% of GDP or up 0.7 p.p. against six months 2014. The quality of state government and effectiveness of budget expenditure are becoming dominant domestic factors of budget system sustainability, its ability to adjust to risks amid falling prices on hydrocarbons and economic growth slowdown.

Suggested Citation

  • Tatiana Tishchenko, 2015. "Russia’S State Budget In January-July 2015," Russian Economic Development, Gaidar Institute for Economic Policy, issue 9, pages 30-35, September.
    • Handle: RePEc:gai:recdev:585
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    More about this item

    Keywords

    State budget; Russian economy;

    JEL classification:

    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H50 - Public Economics - - National Government Expenditures and Related Policies - - - General
    • H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
    • H70 - Public Economics - - State and Local Government; Intergovernmental Relations - - - General

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