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The execution of the federal budget for January–October 2016: shrinkage of the oil and gas deficit

Author

Listed:
  • Mamedov Arseny

    (Gaidar Institute for Economic Policy)

  • Fomina Elena

    (Gaidar Institute for Economic Policy)

Abstract

As demonstrated by reported monthly performance data, the RF federal budget for the first 10 months of 2016 was executed with a deficit of -2.3% of GDP (vs. -1.0% of GDP over the same period of 2015). By the year-end of 20162, the plunge of total federal budget revenue is not expected to exceed 0.8 p.p. of GDP (as compared with 2015), this result to be secured by an increased nonoil and gas revenue component. The year-end movement pattern of expenditure in 2016 is going to be exactly reverse: its amount is expected to increase by 0.5 p.p. of GDP, due in the main to the additional allocation, in November, of Rb 739.7bn to national defense.

Suggested Citation

  • Mamedov Arseny & Fomina Elena, 2016. "The execution of the federal budget for January–October 2016: shrinkage of the oil and gas deficit," Russian Economic Development, Gaidar Institute for Economic Policy, issue 12, pages 6-11, December.
    • Handle: RePEc:gai:recdev:recdev-2016-12-803
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    File URL: https://iep.ru/files/RePEc/gai/recdev/recdev-2016-12-803.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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