Russia's govt executes budget at deficit of 220 bln rubles in 10M, or 0.1% of GDP - Finance Ministry

MOSCOW. Nov 7 (Interfax) - Preliminary data indicate that the Russian government executed the federal budget at a deficit of 220 billion rubles, or 0.1% of GDP, in January-October, the Finance Ministry said in its monthly brief.

There was a surplus of 169 billion rubles according to the ministry's preliminary estimate in 9M. The Federal Treasury further published its data, according to which the budget in January-September was executed at a deficit of 734 billion rubles. Therefore, there could have been a deficit of 389 billion rubles in October if going from the Finance Ministry's preliminary estimate for 10 months.

Federal budget revenues jumped 28.4% year-on-year to 29.668 trillion rubles in January-October.

Non-oil and gas revenues increased 26.6% to 20.129 trillion rubles. Revenues from turnover taxes, including VAT, increased 15.8% for 10 months and exceeded the planned level, the Finance Ministry said.

Oil and gas ramped up revenues 32.3% to 9.539 trillion rubles, mainly owing to growth in prices for Russian oil. Basic oil and gas revenues were at 8.373 trillion rubles.

Expenditures increased 23.7% to 29.889 trillion rubles.