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State budget in January 2013

Author

Listed:
  • Tatiana Tishchenko

    (Gaidar Institute for Economic Policy)

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.

Suggested Citation

  • Tatiana Tishchenko, 2013. "State budget in January 2013," Russian Economic Development, Gaidar Institute for Economic Policy, issue 3, pages 27-29, March.
    • Handle: RePEc:gai:recdev:92
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    More about this item

    Keywords

    State budget;

    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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