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Russia budget surplus makes 110 billion roubles

The Finance Ministry estimates GDP at 16.2 trillion roubles (around $457.9 billion) in January-March 2014

© ITAR-TASS/Marina Lystseva

MOSCOW, April 11. /ITAR-TASS/. According to preliminary estimates of the Russian Finance Ministry, Russian federal budget surplus has reached 110.066 billion roubles (around $3.1 billion) or 0.7% of GDP in January-March 2014, the ministry said on Friday.

Federal budget revenues have made 3.521 trillion roubles (around $99 billion) for the first quarter or 25.9% to the annual amount set in the budget law for this year (including oil and gas revenues - 1.8 trillion roubles or around $51.3 billion). Cash execution of expenditures - 3.4 trillion roubles (around $95.9 billion) or 24.4% to the annual amount approved in the budget for this year and to specified budget spending report.

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Meanwhile, the Finance Ministry estimates GDP at 16.2 trillion roubles (around $457.9 billion) in January-March 2014.

Initial budget surplus is fixed at 242.9 billion roubles (around $6.8 billion) or 1.5% of GDP as of April 1, 2014.

In March 2014 federal budget surplus has reached 3.1 billion roubles (around $86 million) or 0.1% of GDP. Budget revenues have amounted to 1.1 trillion roubles ($32.397 billion) and expenditures - 1.1 trillion roubles ($32.3 billion).

The Federal Taxation Service has transferred 1.5 trillion roubles (around $43 billion) of revenues in the budget or 25.2% to forecast indicators of federal budget revenues for 2014. The country’s taxation service has transferred 1.6 trillion roubles (around $46.3 billion) or 25.3% to forecast figures, the country’s state property management agency - 2.6 billion roubles (around $75.5 million) or 1.3% to forecast annual indicators. Other federal agencies have transferred 340.5 billion roubles (around $9.5 billion) in the federal budget or 42.4% to forecast figures for the reporting period.

Revenues provided by other federal agencies without taking into account revenues passed from some part of proceeds of the Central Bank of Russia (CBR) and from management of assets of the Reserve Fund and the National Wealth Fund have topped 324.6 billion roubles (around $9.1 billion) or 50% to forecast figures.

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