Page 55 - bne IntelliNews Country Report: Russia Dec17
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In the boom years the Russian government ran a non-oil deficit of around 4% and a headline surplus. Oil revenues were used to supplement public spending.
MinFin started 2016 with a non-oil deficit of 13% in the first quarter but during the rest of the year managed to wrangle it down to 9% with a low of 6% in November before the traditional holiday season blow out in December when the non-oil deficit spiked to 20%.
6.2 Debt
Russia - Gross external debt 2010 2011 2012 2013 2014 2015 2016
Budget: gross debt (LC bn)
4,158 5,343 6,520 7,548 10,299 10,952 8,003
Budget: gross debt (% GDP)
8.98 8.95 9.74 10.62 13.22 13.55 n/a
source: Rosstat
55 RUSSIA Country Report December 2017 www.intellinews.com
