Abstract
According to the data released by the RF Federal Treasury, over the period of January-February 2013 Russia’s federal budget revenues amounted to Rb 1,980.0bn (a decline of 2.3 p.p. of GDP on the same period of 2012). Over that period, the federal budget’s revenues from VAT, tax on mineral resources extraction and foreign trade, expressed as percentages of GDP, all dropped on the same period of last year. Over the period of January-February 2013, federal budget expenditures amounted to Rb 2,239.5bn, which is by 0.3 p.p. of GDP less than in the same period of last year; deficit amounted to 2.7% GDP, which is by 0.3 p.p. of GDP higher than its level in the same period of 2012.
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