Ministry of Finance of the Russian Federation
Ministry of Finance of the Russian Federation
21.07.2011

Statements of Deputy Head of the Government of the Russian Federation – Finance Minister of the Russian Federation A. Kudrin

 

Russian budget shows H1 surplus of 2.7% of GDP - Kudrin

MOSCOW. July 21 (Interfax) - Russia ended the first half with a federal budget surplus of 2.7% of GDP, Deputy Prime Minister Alexei Kudrin, who is also the country's finance minister, reported.

"How much did you put in the money-box?" Prime Minister Vladimir Putin asked Kudrin at a government presidium meeting.

Budget revenues for H1 came to 5.304 trillion rubles, or 51.5% of the approved revenue plan for the year, Kudrin said. Spending totaled 4.654 trillion rubles, or 42.3% of plan.

"The budget surplus was 640.2 billion rubles. That is 2.7% of GDP," Kudrin said.

 

Russian budget deficit in 2011 forecast at 1% of GDP - Kudrin

MOSCOW. July 21 (Interfax) - Russia will end this year with a budget deficit of around 1% of GDP, according to the latest forecast, Deputy Prime Minister Alexei Kudrin, who is also the country's finance minister, said.

"We are staying with our budget deficit forecast for now - a little over 1%," Kudrin said at a government presidium meeting.

Traditionally, the bulk of the spending that might lead to an increase in the deficit falls in the second half of the year, Kudrin noted.

Also, he said, it will depend on how fully the ministry and other agencies meet their spending obligations.

 

Budget surplus makes 2,7% of GDP in first half of 2011.

MOSCOW, July 21 (Itar-Tass) —— The budget surplus has made 2.7% of GDP or 640.2 billion roubles in the first half of 2011, Deputy Prime Minister and Finance Minister Alexei Kudrin reported at a meeting of the government presidium on Thursday. “The budget revenues have made 5.304 trillion roubles or 51.5% from specified target revenues and the budget expenditures have made 4.664 trillion roubles or 42.3% for the first half of the year,” Kudrin said.

“The budget surplus has made 640.2 billion roubles or 2.7% of GDP,” he noted.

However, the Finance Ministry does not intend to change a budget deficit forecast at the yearend. “We still keep the budget deficit at one percent, a little bit higher percentage will be linked with the fact how agencies and the ministry fulfill their obligations for the expenditures,” the finance minister said.

The Central Bank became the largest article of additional revenues with 93 billion roubles of additional revenues than was planned initially.

“The budget revenues are growing not only over high prices on energy carriers, but also over the economic growth; a positive tendency persists,” Putin commented on Kudrin’s report.