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Russian non-oil and gas budget revenues to reach 12.5% of GDP — ACRA

The revision of budget indicators suggested by the Ministry of Finance, specifically the rise in budget expenditures by about $5.7 bln

MOSCOW, June 27. /TASS/. Non-oil and gas revenues of the Russian Federal budget may reach 12.5% of GDP, Director of Sovereign and Regional Ratings Group of the ACRA rating agency Dmitry Kulikov told TASS.

"According to our estimates, non-oil and gas revenues may reach the value of about 12.5% of GDP," Kulikov said.

The revision of budget indicators suggested by the Ministry of Finance, specifically the rise in budget expenditures by about 500 bln rubles ($5.7 bln) and the budget deficit increase to 1.1% of GDP, along with the lowered estimate for the receipt of additional oil and gas revenues, will not have a significant impact on GDP, the expert said.

"Such technical revision of the budget is not too significant at the scale of the entire economy - its potential impact on GDP and prices can be considered minimal as compared to other factors," Kulikov added.

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