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Russia Posts Seven Month Budget Surplus

© Sputnik / Ilya Pitalev / Go to the mediabankRussia Posts Seven Month Budget Surplus
Russia Posts Seven Month Budget Surplus          - Sputnik International
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Russia’s federal budget was in a surplus of 282.59 billion rubles ($8.8 billion) for the first seven months of the year or 0.9 percent of the country’s gross domestic product (GDP), the Finance Ministry said on Monday, citing preliminary data.

Russia’s federal budget was in a surplus of 282.59 billion rubles ($8.8 billion) for the first seven months of the year or 0.9 percent of the country’s gross domestic product (GDP), the Finance Ministry said on Monday, citing preliminary data.

Russia’s primary surplus, which excludes debt interest payments, totaled 467.2 billion rubles.

Russia’s federal budget revenues for the first seven months of the year totaled 7.248 trillion rubles or 57.2 percent of the revenue plan, while spending hit 6.965 trillion rubles or 54.6 percent of the figure specified in the budget plan.

Finance Minister Anton Siluanov has previously said Russia’s federal budget may run a deficit of 1.5 percent of GDP in line with the ministry’s original forecast, if average world oil prices in 2012 fall below $100 per barrel.

 

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