The Federal Budget in H1: Revenues Growth and Surplus

Abstract

According to the results of H1 2018, federal budget revenues increased by 1.8 p.p. of GDP as compared to the relevant period of the previous year, while the share of oil and gas revenues rose from 40.4% to 45.6%. On the contrary, expenditures in relation to GDP fell by 1.2 p.p. As a result, in the first six months of this year the budget was administered with a surplus of 1.9% of GDP as compared to the deficit of 1.0% of GDP a year before.