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Law on 2016 Federal Budget execution

October 17, 2017

The President has signed the Federal Law On the Execution of the 2016 Federal Budget.

The Federal Law provides for the approval of the report on the 2016 Federal Budget execution.

The 2016 budget was executed with a deficit of 2956.4 billion rubles, which is 3.4 percent of the GDP, up from the initially projected deficit of 2360.2 billion rubles (3.0 percent of GDP).

The overall Federal Budget revenue was 13,460.0 billion rubles, spending – 16,416.4 billion rubles.

Inflation reached 5.4 percent, which is one percentage point below projections.

The non-oil-and-gas deficit in 2016 amounted to 9.1 percent of the GDP, down 0.6 percent from 2015.

October 17, 2017