The Federal budget of the Russian Federation in January-October 2016 was executed with a deficit of $ 1 trillion 577,3 billion that soobvetstvuet 2.3% of GDP. The deficit decreased in comparison with January – September, when the figure was 1,576 trillion rubles, or 2.6% of GDP. As reported by RIA “Novosti”, said the press service of the Ministry of Finance estimates of budget execution.
The Finance Ministry expects the Federal budget deficit in 2016 at 3.9% of GDP. In the first half of this year, according to the Ministry, the deficit in annual terms amounted to 3.7% of GDP.
Budget revenues were in the amount of 10 trillion 440,6 billion (76.0 per cent of total income for the year), expenditures in the amount of 12 trillion USD 17.9 billion (74.7 percent of total expenditure for the year).
Primary deficit amounted to 1.5% of GDP.
The balance of sources internal and external financing of the deficit was at the level of 1 trillion 442,9 billion and the 104.3 billion respectively.
The volume of Russia’s GDP in ten months amounted to 67 trillion 774,7 bn.
The volume of oil and gas revenues amounted in January-October 3 trillion 853,6 billion, or 63.7% of the forecast for 2016, non-oil revenues – 6 trillion 587,0 billion, or 85.6 per cent of the annual forecast.
The Federal tax service (FNS) has provided receipt in the budget of 5 trillion 802,7 billion, or 77.4 per cent, to forecast earnings for 2016, the Federal customs service – 3 trillion 500,1 billion, or 73.9 per cent, the forecast income figures, other Federal agencies transferred to 1 trillion kzt137. 8 billion, or 75.5%, to forecast performance.