Template-Type: ReDIF-Paper 1.0
Author-Name:Mamedov Arseny
Author-Name-First: Arseny 
Author-Name-Last:Mamedov 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Author-Name:Fomina Elena
Author-Name-First: Elena 
Author-Name-Last:Fomina 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Author-Name:Belev Sergey
Author-Name-First: Sergey 
Author-Name-Last:Belev 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Title: Russia’s State Budget in 2015
Abstract: In 2015, the general government increased their budget revenues in absolute terms by Rb 123bn from 2014, however the revenues dropped by 0.9 percentage points of GDP and by 13% in real terms (including CPI). The general government increased their budget expenditure both in nominal terms and as a percentage of GDP by 1.5 percentage points of GDP, whereas expenditure in real terms were cut by 7% over values seen in 2014. As a result, the general government ran their budget with a deficit of 3.5% of GDP (the 2014 budget deficit was 1.1% of GDP). Note that the 2015 deficit was many times the value recorded in 2013–2014, both in absolute terms and as a percentage of GDP, whereas a surplus was recorded in 2011–2012. Thus, in 2015 Russia’s budget system saw its balance deteriorate seriously over values seen in 2011–2014.
Classification-JEL: H61, H62
Keywords:  Russian economy, budget system, tax revenues, budget parameters
Creation-Date: 2016
Revision-Date:2016
Publication-Status: Published in RUSSIAN ECONOMY IN 2015  TRENDS AND OUTLOOKS  (ISSUE 37)
Length: 15 pages
File-URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2016-260.pdf
File-Format: application/pdf
File-Function: Revised version, 2016
Handle: RePEc:gai:ppaper:ppaper-2016-260