ACRF publishes federal budget exception report for six months

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August 25, 2021
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ACRF
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The Accounts Chamber has prepared an exception report on the execution of the Federal Budget in January – July 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 – July 2021 (Key Takeaways)

The Russian economy experienced a recovery growth in the first half of 2021. Therewith, the record high growth of main macroeconomic indicators is largely due to the low base in the previous year. Inflation remained at a high level and reached 4.2% — since the start of the year to the end of June; it reached a five-year high of 6.5% in June, a nnualized.

Key characteristics of the Federal Budget are:

  • Revenues – 11,265.0 billion rubles, or 60% of the projected total revenues, and it increased by 2,173.1 billion rubles, or 23.9%, as to 2020 year on year.
  • The consolidated list with amendments – 22,734.8 billion rubles and exceeded the expenditures approved by Federal Law No. 385-FZ by 1,214.7 billion rubles, or 5.6% (in the same period of 2020, the excess was 2,267.2 billion rubles or 11.5%). 
  • A surplus – 625.9 billion rubles. Therewith, the sources of internal financing amounted to (-) 646.5 billion rubles and the sources of external financing — to 20.6 billion rubles.
The volume of the National Welfare Fund in ruble equivalent increased by 28.9 billion rubles, or 0.2%, to amount 13,574.6 billion rubles (11.7% of GDP).

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