Russia budget surplus 356bn roubles in Jan-May

MOSCOW : Russia ran a budget surplus of 356 billion roubles ($12.84 billion) in the first five months of the year, the F

Published June 10, 2011 Updated June 10, 2011 07:48am

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By Syed Murtaza Gheblehzadeh

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Budget revenues in the period from January to late May, according to preliminary data, totalled 4.198 trillion roubles while spending came in at 3.842 trillion roubles, the Treasury said.

Russia's government plans revenues at 8.845 trillion roubles and spending of 10.659 trillion roubles for the whole of 2011.

Finance Minister Alexei Kudrin said in April that Russia's 2011 budget deficit was likely to total between 1.0-1.4 percent of gross domestic product. The Economy Ministry said the deficit would be 0.6-0.8 percent of GDP.

The World Bank this week forecast the shortfall in the world's largest oil and gas producer at 0.4 percent.

The finance ministry is expected to give more detailed data on the budget in coming days.

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