The State Budget in Q1 2015

Abstract

According to the preliminary data of the Ministry of Finance of the Russian Federation, on the basis of the results of January–March 2015 the federal budget revenues fell by 0.9 p.p. of GDP, while the expenditures increased by 5.1 p.p. of GDP as compared to the same period of the previous year. In January–February 2015, the revenues of the consolidated budget of constituent entities of the Russian Federation fell by 0.5 p.p. of GDP, too, while the expenditures rose by 0.1 p.p. of GDP as compared to two months of 2014. On the basis of the results of three months of 2015, the defi cit of the federal budget amounted to 4.9% of GDP, while the consolidated budget of constituent entities of the Russian Federation was executed in January–February 2015 with a defi cit of 2.0% of GDP.