ALEXANDER DERYUGIN: “HOW THE PANDEMIC AFFECTED THE RUSSIAN BUDGET”

The Vedomosti daily presents the findings of the study carried out by Alexander Deryugin, Researcher of the Budget Policy Department, Gaidar Institute, in which he analyzed the effect of antiepidemic measures on regions’ financial situation (see the Online Monitoring of Russia’s Economic Outlook, Issue No.14 (116) May).

As per Alexander Deryugin’s calculations, “from January to April 2020 the consolidated budget revenues decreased by 1.2% as compared with the same period of 2019. However, in April due to the shutdown of numerous sectors of the economy the regional budget revenues fell by 20.9%. From January to April 2020, corporate profit tax revenues decreased by 11.1% (28.5% in April) on the same period of 2019. Within four months of 2020, the revenues from the overall income tax fell by 15.8% (April – minus 40.7%), while those from the property tax, by 10.8% (minus 43.7%). In January-April 2020, the revenues from the individual income tax increased by 2.7%, but in April they fell by 18.7% as compared with April 2019, the past 20 years’ so-called anti-record.”