Abstract
According to the Federal Treasury, in January-April 2013, the federal budget revenues have been decreased by 2.2 p.p. of GDP as compared with the same period of the last year due to a reduction of oil and gas revenues by 1.7 p.p. of GDP, as well as non-oil revenues decline by 0.5 p.p. of GDP. The consolidated budget of RF Subjects revenues have also decreased with January–March 2013 by 1.8 p.p. of GDP against the three months of 2012. In May of this year, the Government of the Russian Federation has submitted to the State Duma a bill on amendments to the law on the federal budget, providing for reallocation of budgetary allocations within the limit of total expenditures of the federal budget for 2013 in the amount of Rb 171.2bn, including about Rb 4.3bn of budget expenditures to be addressed to additional funding in the Olympic Games “Sochi-2014”.
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