29 Jul 2009 14:19

TABLE: Russian federal budget and borrowing in 2009-2012

MOSCOW. July 29 (Interfax) - The Russian Finance Ministry has specified the parameters of the federal budget and borrowing in 2009-2012. It provided Interfax with the data current as of July 28.

Forecast federal budget and borrowing in 2009-2012 (bln rubles unless noted otherwise):

2009 2010 2011 2012
Main budget parameters
Revenue: 6561.3 (17.1% GDP) 6636.2 (15.7% GDP) 7346.9 (15.7% GDP) 8097.4 (15.5% GDP)
- oil and gas 2545.8 (6.6% GDP) 2955 (7% GDP) 3245.2 (6.9% GDP) 3520.8 (6.7% GDP)
- non-oil and gas 4015.5 (10.4% GDP) 3681.2 (8.7% GDP) 4101.7 (8.8% GDP) 4576.6 (8.8% GDP)
Spending 9980.1 (25.4% GDP) 9822.8 (23.2% GDP) 9358.6 (20% GDP) 9661.2 (18.5% GDP)
Deficit 3418.8 (9.4% GDP) 3186.6 (7.5% GDP) 2011.7 (4.3% GDP) 1563.8 (3% GDP)
Sources of deficit financing
Reserve Fund 3028.3 1674.6 5.6 -
National Welfare Fund - 681.7 737 712.1
External borrowing: - 649.7 807.5 814.1
Including: - state securities placed - 613.6 ($17.79 bln) 764.7 ($20.677 bln) 784 ($20 bln)
-state securities repaid 52.6 48.2 115.8 52.4
Domestic borrowing:
- state securities placed 739.5 844.1 957.5 755.4
- state securities repaid 100.4 275.7 208.9 518.9
State debt at year-end:
External 1360.9 2097.5 2973.3 3994.9
Domestic 2698.3 3591.8 4355.7 4557.3
Total as % of GDP 10.5 13.4 15.7 16.4
Main macroeconomic assumptions used in drafting budget
GDP 38461 42372 46783 52123
Urals $/bbl 54 55 56 57
Inflation 12% 10% 8% 7%
Ruble exchange rate (RUR/$1) 34.1 34.5 37 39.2

The table is based on data presented by Alexei Lavrov, head of the Finance Ministry's budget planning department, at a briefing on July 27 and includes revisions as of July 28.