Page 33 - RUSRptAug18

5.3 FDI
Russia -FDI 2011 2012 2013 2014 2015 2016 2017*
FDI Net (BoP) (USD mn)
11,767 -1,765 17,288 35,051 15,232 -10,225 /
FDI net inflows (BoP)
55,084 50,588 69,219 22,031 6,854 32,539 25,338 (Jan-Sep)
FDI net inflows (% of GDP)
2.69 2.29 3.01 1.07 0.50 2.54 /
FDI net outflows (% of GDP)
3.26 2.21 3.77 2.78 1.62 1.74 /
source: World Bank
6.0 Public Sector 6.1 Budget
Russia's federal budget surplus in the first half of 2018 reached RUB0.9 trillion ($14.4bn) or 1.9% of GDP, according to finance ministry data. Budget revenues stood at RUB8.6 trillion, jumping 21% y/y due to a 33% surge in oil and gas revenues attributed to the 35% growth in the oil price. Non-oil revenues also increased by 11%. Despite the positive fiscal outlook, the finance ministry previously firmly stood behind the "budget rule" which caps spending at the $40 per barrel oil price cut-off benchmark. The ministry also continues to borrow, Sberbank CIB commented on July 16. "Despite the budget surplus, the finance ministry continued to borrow on the local market, with net borrowing reaching almost RUB230bn." The ministry plans to borrow RUB1.04 trillion this year.
The Ministry of Finance has published its preliminary data on the execution of the federal budget for 6M18 . The federal budget for 2018 has recently been amended and the budget has collected half of the newly
33 RUSSIA Country Report August 2018 www.intellinews.com