Page 63 - RusRPTApr20

6.0 Public Sector 6.1 Budget
Key parameters: draft federal budget for 2020-22 (pre-coronavirus)
GDP
GDP growth
Average price of oil
RUB/USD exchange rate average
Inflation average
Revenues
of which:
- oil revenues
- non-oil revenues
Expenditure
Balance
Units RUB bn
% y/y $
% y/y
RUB bn
% GDP
RUB bn % GDP % of tax RUB bn % GDP % of tax RUB bn % GDP RUB bn % GDP RUB bn % GDP
2019 (current 2020F law)
108,414.0 112,863.0
1.3 1.7 62.2 57.0 65.4 65.7
3.8 3.0
20,174.9 20,363.0
18.5 18.0
8,239.5 7,472.2 7.6 6.6 40.8 39.1 11,935.5 11,616.4 10.9 11.4 59.2 57.0 18,293.7 19,503.3 16.8 17.3
1,881.2 880.8
1.7 0.8 -6,358.3 -6,612.5 -5.7 -6.0
2021F 2022F 120,364.0 128,508.0
3.1 3.2 56.0 55.0 66.1 66.5
4.0 4.0
21,246.5 22,058.3
17.7 17.2
7,679.4 7,730.6 6.4 6.0 36.1 35.0 13,567.1 14,327.6 11.3 11.1 63.9 65.0 20,632.0 21,770.7 17.1 16.9 614.5 287.6 0.5 0.2 -7,064.9 -7,443.0 -6.3 -6.7
revenues
revenues
Non-oil deficit
Source: MinFin, VTB Capital Research.
63 RUSSIA Country Report April 2020
www.intellinews.com