ACRF publishes federal budget exception report for nine months

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December 7, 2021
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The Accounts Chamber has prepared an exception report on the execution of the Federal Budget in January – September 2021. The results of the execution analysis of Budgets of State Nоn-Budgetary Funds and consolidated budget of Russian regions are included in the Exception report as well. Highlights of the report can be found below.

Exception report on execution of the Federal Budget in January – September 2021 (Key Takeaways)

The Russian economy continued its recovery and, even though the growth rate was slowing down, developments in the real sector of the economy demonstrated a stabilizing trend. With regard to the basic premises of economic performance, the period of January – September 2021 showed generally positive momentum in terms of oil prices coupled with volatility of the national currency exchange rate.

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Key characteristics of the Federal Budget are:

  • Total federal budget revenues amounted to 17,922.9 bn RUB, or 95.5 % of the forecast sum, making 75.4% of the expected estimate, which includes oil and gas revenues of 6,184.8 bn RUB and non-oil and gas revenues of 11,738.1 bn RUB.
  • Cash expenditure amounted to 16,470.8 bn RUB, or 70.3 % of the summary budget breakdown with revisions, which is slightly higher than the execution level over the past 16 years. Proceedings from expenditures executed as of 1 October 2021 and budgetary appropriations of the summary budget breakdown with revisions, the volume of expenditure in 4Q 2021 should amount to 6,961.5 bn RUB.
  • The federal budget was executed with a surplus of 1,452.1 bn RUB. The internal sources of finance amounted to (-) 1,436.2 bn RUB, and external sources to (-) 15.9 bn RUB.

The National Wealth Fund in Ruble equivalent went up by 352.9 bn RUB, or 2.6% to a total of 13,898.5 bn RUB (12.0% of GDP)

The previous exception report on execution of the Federal Budget can be found here.