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Execution of the Federal Budget in January-March 2018

Tatyana Tischenko – Senior Research fellow of the Budget Policy Department of the Gaidar Institute; Senior Research fellow of the Budget Policy Department, Institute for Applied Economic Studies, Russian Presidential Academy of National Economy and Public Administration, Candidate of Economic Sciences. Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

In Q1 2018, the federal budget revenues exceeded the revenues seen during the same period of 2017. Oil and gas revenues rose while oil and gas income fell. Budget expenditure decreased against January-March 2017 which ensured the federal budget surplus.

Key words: federal budget, budget revenues, budget expenditures, budget surplus.