Download or read book Russia s State Budget in January July 2015 written by Tatiana Tischenko and published by . This book was released on 2015 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the Federal Treasury data, over January-July 2015, Russia's federal budget revenues contracted 1.3 p.p. of GDP, and expenditures went up 3.3 p.p. of GDP on the same period of the previous year. Revenues and expenditures of the consolidated budgets of the constituents of the Russian Federation over six month of the current year up 1.0 and 0.3 p.p. of GDP on six months of the previous year, respectively. The federal budget deficit for January-July 2015 constituted 2.8% of GDP, which is down 4.4 p.p. of GDP of the federal budget balance over seven months last year. Consolidated budget of the subjects of the Russian Federation by the period-end for six months 2015 was executed with a surplus of 1.0% of GDP or up 0.7 p.p. against six months 2014. The quality of state government and effectiveness of budget expenditure are becoming dominant domestic factors of budget system sustainability, its ability to adjust to risks amid falling prices on hydrocarbons and economic growth slowdown.

Download or read book Russia s State Budget in January November 2015 written by Tatiana Tischenko and published by . This book was released on 2016 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the data released by the Federal Treasury, by the period-end for January-November 2015 the federal budget revenues as a share of GDP have reached their high of 18.0% of GDP during eleven months of the current year. Prior to that, the lowest indicator for the federal budget revenues as a share of GDP was registered as of the period-end for January-May and January-August - 19.0% of GDP.

Download or read book Russia s State Budget in January April 2015 written by Tatiana Tischenko and published by . This book was released on 2015 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the recent data released by the Federal Treasury, within January-April 2015 the federal budget revenues fell by 0.6 p.p. of GDP and the expenses went up by 4.7 p.p. of GDP on the same period of the previous year. Revenues and expenses of the consolidated budget of the subjects of the Russian Federation over January-March 2015 went up by 1.1 and 0.3 p.p. of GDP respectively. The amount of the federal budget deficit for the first four months of 2015 constituted 4.7% of GDP, while the consolidated budget of RF subjects over January-March of 2015 has been executed with a surplus of 1.5% of GDP. Dynamics of the main parameters of the federal and consolidated budgets of RF subjects post a variety of trends and confirm both most optimistic projections about the end of the acute phase of the Russian economic crisis and the most pessimistic projections about the GDP contraction by 2.5% by the year-end of 2015. A number of interrelated factors both internal and external and their unpredictability have aggravated the problem of feasibility of socio-economic development forecast for selecting main parameters of the budgetary system of the Russian Federation for the medium term.

Download or read book Russia s State Budget in January October 2015 written by Tatiana Tischenko and published by . This book was released on 2015 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the data released by the Federal Treasury, by the period end for January-October 2015 the federal budget revenues contracted by 1.1 p.p. of GDP and expenditures moved up by 2.2 p.p. of GDP compared to the same period last year. As a result, the federal budget deficit constituted 1.3% of GDP. Revenues and expenditures of the consolidated budget of the subjects of the Russian Federation over nine months of the current year against January-September 2014 increased by 0.8 and 0.4 p.p. of GDP, respectively. The surplus of the consolidated budget of RF subjects has come to 0.7% of GDP as of the period-end for nine months of the current year.

Download or read book Russia s State Budget in January June 2015 written by Tatiana Tischenko and published by . This book was released on 2015 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the data recently released by the Federal Treasury, over January-June 2015, the federal budget revenues contracted 1.9 p.p. of GDP, and expenditures went up 2.6 p.p. of GDP on the same period of the previous year. Revenues and expenditures of the consolidated budgets of the constituents of the Russian Federation over January-May 2015 increased 1.1 and 0.2 p.p. of GDP on five months of the previous year, respectively. Positive dynamics of the federal budget defi cit reduction are observed: by the end of five months 2015, the deficit constituted 3.7% of GDP, and then at the period-end results for six months 2015, it came to barely 2.6% of GDP. Consolidated budget of the RF constituents by the period-end results for five months 2015, was executed with a surplus of 2.0% of GDP.

Download or read book Russia s State Budget in January August 2015 written by Tatiana Tischenko and published by . This book was released on 2015 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the Federal Treasury, as of the period-end results for January-August 2015 the federal budget revenues contracted 1.6 p.p. of GDP, and expenditures went up 2.5 p.p. of GDP in comparison with the same period of the last year. Revenues and expenditures of the consolidated budget of the constituents of the Russian Federation as of the period-end results for seven months of the current year against seven months of the previous year went up 1.1 and 0.4 p.p. of GDP, respectively. The federal budget deficit as of the period-end results for January-August 2015 amounted to 2.1% of GDP down 4.1 p.p. of GDP against the federal budget surplus over seven months of the last year. The consolidated budget of the constituents of the Russian Federation as of the period-end results for seven months 2015 was executed with a surplus of 1.4% of GDP or up 0.6 p.p. against seven months of the previous year.

Download or read book Russia s State Budget in January September 2015 written by Tatiana Tischenko and published by . This book was released on 2015 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the Federal Treasury, as of the period-end results for January-September 2015 the federal budget revenues contracted 1.3 p.p. of GDP and expenditures went up 2.4 .p. of GDP in comparison with the same period of the previous year. Revenues and expenditures of the consolidated budget of the constituents of the Russian Federation over eight months of the current year against the same period of the previous year increased by 0.6 and 0.2 p.p. of GDP, respectively. The federal budget deficit as of the period-end results for January-September 2015 came to 1.5% of GDP which is by 3.7 p.p. of GDP lower than the federal budget surplus over nine months of the previous year. Consolidated budget of the constituents of the Russian Federation as of the period-end results for eight months of 2015 was executed with a surplus of 1.0% of GDP or up 0.4 p.p. against January-August of the previous year. Reduction of the federal budget deficit in the medium-term remains the principal task of the RF Government. Anton Siluanov the Russian Finance Minister noted that as of the current year-end the federal budget deficit would not exceed 3% of GDP. Draft 2016 federal budget was also compiled with a deficit of 3% of GDP. However, in the coming 2017-2018 the federal budget deficit will be decreasing by a minimum of 1 p.p. of GDP annually. Despite the firm Finance Ministry stance against the increase of the federal budget expenditure1 reduction of the federal budget expenditure is limited in the medium-term and even during the execution of the current budget, the federal government is forced to take decisions which result to an increase in the budgetary allocations.

Download or read book Russia s State Budget in January May 2015 written by Tatiana Tischenko and published by . This book was released on 2015 with total page 6 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the recent data released by the Federal Treasury, within January-May 2015 the federal budget revenues contracted by 2.2 p.p. of GDP, and the expenses went up by 3.3 p.p. of GDP on the same period of the previous year. Revenues and expenses of the consolidated budget of the subjects of the Russian Federation over January-April 2015 went up 1.1 and 0.3 p.p. of GDP, respectively. The amount of the federal budget deficit for the first five months of 2015 constituted 3.7% of GDP, while the consolidated budget of RF subjects over January-April of 2015 has been executed with a surplus of 2.4% of GDP. On 25 June 2015, the RF Government approved in principle basic parameters of the 2016 Federal Budget and planned period of 2017-2018 taking account of latest trends in the GDP movement and oil prices, long-term risks and challenges including linked to structural and demographic imbalances in the economy.

Download or read book Russia s State Budget in January December 2015 written by Tatiana Tischenko and published by . This book was released on 2016 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the data released by the Federal Treasury, by the period-end for January-December 2015 the federal budget revenues came to 18.2% of GDP down 2.2 p.p. of GDP against twelve months of 2014. For January-December 2015, the consolidated budget revenues of the RF subjects as a share of GDP moved up by 0.3 p.p. of GDP against eleven months of the previous year and constituted 12.2% of GDP. At the same time, proper revenues of the regional budgets for January-November 2015 went up by 0.4 p.p. of GDP in comparison with the same period 2014.

Download or read book Russia s State Budget in January 2015 written by Tatiana Tischenko and published by . This book was released on 2015 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the preliminary data of the Ministry of Finance of the Russian Federation, on the basis of the results of January 2015 the federal budget revenues fell by 0.8 p.p. of GDP, while the expenditures rose by 14.0 p.p. of GDP as compared to the same period of the previous year. The annual data on execution of the consolidated budget of constituent entities of the Russian Federation in 2014 shows growth of 0.2 p.p. of GDP in the revenues and a decrease of 0.1 p.p. in the expenditures as compared to January-December 2013. On the basis of the results of the first month of 2015, the federal budget deficit amounted to 5.4% of GDP, while the consolidated budget of constituent entities of the Russian Federation was executed in January-December 2014 with a deficit of 0.6% of GDP.

Download or read book The State Budget in Q1 2015 written by Tatiana Tischenko and published by . This book was released on 2015 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 deficit 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 deficit of 2.0% of GDP.

Download or read book Russia s State Budget in January July 2013 written by Tatiana Tischenko and published by . This book was released on 2013 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the Federal Treasury's estimates, the volume of federal budget revenue over the first 7 months of 2013 dropped by 2.2 p.p. of GDP on the corresponding period of 2012. As a positive fact, it can be noted that the rate of decline in the volume of federal budget expenditure as a share of GDP over the five recent months of 2013 against its levels recorded over the corresponding periods of last year has not been accelerating, being stable at the level of 2.1-2.2 p.p. of GDP. At the same time, the situation with regard to the dynamics of revenue of the consolidated budget of RF subjects has been aggravating: while the results of the first three months of 2013 pointed to its decline by 1.8 p.p. of GDP on January-March of last year, the volume of revenue for the period of January-July 2013 dropped still further - to 2.1 p.p. of GDP on the first six months of 2012. Thus, the medium-term risks for the Russian budgetary system's sustainability will depend on the ability of the consolidated budgets of RF subjects to remain well-balanced, as well as on the regions' ability to provide financing for their assumed vobligations without drawing on additional allocations from the federal budget.

Download or read book Russia s State Budget in January November 2014 written by Tatiana Tischenko and published by . This book was released on 2015 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to data released by the RF Federal Treasury, Russia's federal budget revenue over the period of January-November 2014 increased by 0.5 p.p. of GDP on the same period of 2013 due to growth, by 0.5 p.p. of GDP, of the volume of oil and gas revenue.The main factor responsible for the upward movement of the oil and gas revenue index (and the corresponding upward movement of federal budget revenue) in face of plummeting world oil prices (to $60 per barrel) was the ruble's dramatic weakening against the USD and euro. Thus, the federal budget surplus of 1.9 % of GDP achieved over the first eleven months of 2014, as well as the surplus of 0.4 % of GDP in the consolidated budget of RF subjects achieved over the ten months of 2014, can by no means be regarded as manifestations of the budget system's sustainability as a whole. As early as late October 2014, Moody's Investors Service rating agency downgraded Russia's credit rating index from Baa1 to Baa2, pointing out in this connection that any further weakening of this country's national currency will have an extremely negative effect on the economy.

Download or read book The State Budget in January March 2014 written by Tatiana Tischenko and published by . This book was released on 2014 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the data of the Federal Treasury, in January-March 2014 the federal budget revenues increased by 0.8 p.p. of GDP as compared to the same period of the previous year on account of growth of 1.1 p.p. of GDP in oil and gas revenues due to depreciation of the ruble exchange rate against the US dollar. In the 1st quarter of 2014, federal budget expenditures fell by 0.4 p.p. of GDP as compared to the 1st quarter of 2013 and on the basis of the results of January-March 2014 the federal budget was executed with a surplus of 0.7% of GDP. However, the effect of unfavorable foreign political and economic factors is getting stronger which situation creates additional risks for stability of the budget system of the Russian Federation and may require adjustment of the main parameters of the federal budget in the second half of 2014.

Download or read book The State Budget in January August 2014 written by Tatiana Tischenko and published by . This book was released on 2014 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the data of the federal Treasury, in January-August 2014 federal budget revenues rose by 0.9 p.p. of GDP as compared to the respective period of the previous year; within 7 months of 2014 the revenues of the consolidated budget of constituent entities of the Russian Federation rose by 0.2 p.p. of GDP as compared to January-July 2013. Within 8 months of 2014, federal budget expenditures decreased by 0.2 p.p. of GDP as compared to the respective period of 2013; within 7 months expenditures of the consolidated budget of constituent entities of the Russian Federation were 0.1 p.p. of GDP lower than in June-July 2013. On the basis of the results of execution of budgets, surplus is registered: 2.0% of GDP in January-August 2014 as regards the federal budget and 0.7% of GDP in January-July 2014 as regards the consolidated budget of constituent entities of the Russian Federation. On September 18, 2014, the Government of the Russian Federation approved the draft law of the federal budget in the mid-term prospect, while the initial comments on the main parameters of the fiscal policy were given by the Minister of Finance at the Investment Forum in Sochi. According to the Finance Minister, the next year will be the most difficult in terms of financial and economic stability both for the country in general and the private sector and the population in particular.

Download or read book The State Budget in January April 2014 written by Tatiana Tischenko and published by . This book was released on 2014 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: According to the data of the Federal Treasury, in January-April 2014 the federal budget revenues rose by 0.9 p.p. of GDP as compared to the respective period of the previous year due to accelerated growth of 1.2 p.p. of GDP in oil and gas revenues. In January-March 2014, revenues of the consolidated budget of constituent entities of the Russian Federal on fell by 0.7 p.p. of GDP against the first months of 2013. On the basis of the results of January-April 2014, the federal budget is executed with surplus of 0.3% of GDP; there was surplus of 0.7% of GDP on the basis of the results of execution of the consolidated budget of constituent entities of the Russian Federation in January-March 2014, too.

Download or read book The Russian Economy under Putin written by Torbjörn Becker and published by Routledge. This book was released on 2018-10-03 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents a comprehensive view of the state of the Russian economy under President Putin. It considers the extent of Russia’s integration in the world economy, where Russia’s exports of oil and gas are a key factor, discusses Russia’s internal challenges, including changing demographics, declining government revenue, the need to counter over-reliance on the oil and gas sector and the consequences of high military spending, and assesses the prospects for economic reform, highlighting especially the power struggles between different vested interests. Overall, the book provides a basis for understanding what has been going on in the Russian economy under President Putin and what the future may look like given the external environment, internal challenges and reform processes.