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.