The Accounts Chamber has prepared an exception report on the execution of the Federal Budget in January – March 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 – March 2021 (Key Takeaways)
The gradual improvement of the Russian economy continued in 1Q 2021, driven by a revival of both foreign and domestic demand, as well as by the significant oil price rally with a slight depreciation of the rouble.
A main characteristics of the Federal Budget are:
- Revenues - RUB 5.299 trillion, or 28.2% of the forecast total revenues RUB 18.765 trillion.
- A cash execution of expenditure - RUB 5.09 trillion, or 22.7% of the quarterly budget breakdown with changes, which is slightly higher than the execution level in the past three years.
- A surplus - RUB 209.4 bn (an approved deficit is RUB 2.775 trillion).
The National Wealth Fund in RUB equivalent increased by RUB 226.5 bn, or by 1.9%, to a total of RUB 13.802 bn (11.9% of GDP).
Full version of the Exception report on execution of the Federal Budget with all annexes (RUS) can be found here.