According to the Ministry of Finance, Russia recorded the Federal Budget deficit equal to 995.79 billion rubles, or 4.4% of GDP for the past four months.
Budget spending totaled 5.544 billion rubles. Fiscal revenues hit the level of 4.548 trillion rubles where oil and gas sectors accounts for 2.018 trillion rubles and 2.53 trillion rubles come from non-oil and non-gas industry. So, spending stays at 36.4% and revenues reached the level of 36.3% in the Q1 of 2015.
Government budget deficit for the current fiscal year is estimated at 3.7% of GDP: revenues are expected at the level of 12.54 trillion rubles and spending is forecasted to total 15.22 trillion rubles. The Russian government aims to pass deficit-free budget in 2017.
The Federal Tax Service added 2.456 trillion rubles to the federal budget since January 2015 that accounts for 39.1% of the federal budget income forecasted for 2015. The Federal Customs Service topped up the budget with 1.568 trillion rubles or 32.5%, and the Federal Agency for State Property Management brought 9313.6 billion rubles or 4.5% of the forecasted amount.
The deficit hit the level of 5% of GDP in April. The federal budget received 1.11 trillion rubles last month and state spending totaled 1.41 trillion rubles.
Russia has already repaid 56.9% of its external debt within the first four months of the year. In particular, 151.20 billion rubles were repaid in April.
