Russian budget surplus 1.2% of GDP in 5M - MinFin
MOSCOW. June 14 (Interfax) - Russia had a federal budget surplus of 458.9 billion rubles, or 1.2% of GDP, in January-May 2018, the Finance Ministry said in a statement, quoting preliminary data.
There was a primary federal budget surplus of 2.1% of GDP. GDP for the period was 37.804 trillion rubles.
Budget revenue was 6.913 trillion rubles, 45.3% of forecast revenue for the year, and expenditures amounted to 5.347 trillion rubles, 39.0% of approved spending or 37.6% of adjusted spending.
The balance of internal and external sources of funding of the budget deficit was minus 516.8 billion rubles and 57.9 billion rubles, respectively.
Oil and gas revenue was 3.175 trillion rubles or 57.9% of the year's forecast, and non-oil revenue was 3.738 trillion rubles or 38.2%.
Federal tax revenue was 4.415 trillion rubles or 48.7% of forecast revenue for the year, customs revenue was 2.140 trillion rubles or 44.5% and other federal revenue was 0.357 trillion rubles or 25.9%.
Spending on social policy came to 1.951 trillion rubles (41.5% of the approved target), national defense - 1.289 trillion rubles (43.1%), national security - 704.1 billion rubles (33.8%), the national economy - 638.8 billion rubles (26.4%), housing and utilities - 66.9 billion rubles (43.8%), national interests - 467.4 billion rubles (31.9%), education - 332.8 billion rubles (46%) and healthcare - 184.3 billion rubles (33.4%).
Spending on state and municipal debt servicing came to 317.8 billion rubles in January-May (38.6%) and inter-budgetary transfers to 364.5 billion rubles (40.4%).