Page 47 - RusRPTOct19

Key parameters: draft federal budget for 2020-22
Units 2018 2019 (current law) 2020F 2021F 2022F
Revenues RUB bn 19,454.4 20,174.9 20,363.0 21,246.5 22,058.3
Revenues % GDP 18.7 18.5 18 17.7 17.2
Expenditure RUB bn 16,713.0 18,293.7 19 ,82.1 20,632.0 21,770.7
Expenditure % GDP 16.1 16.8 17.3 17.1 16.9
Balance RUB bn 2741.4 1,881.2 880.8 614.5 287.6
Balance % GDP 2.6 1.7 0.8 0.5 0.2
Source: MinFin, VTB Capital Research.
Federal budget: surplus allocation and debt financing
RUB bn
2019 (current law)
2020F
2021F
2022F
Total
-1881.2
-880.8
-614.5
-287.6
% GDP
1.7
0.8
0.5
0.2
including:
Debt
1409.7
1599.5
1718.5
1874.5
NWF
4.7
4.5
4.3
4.1
Other
-3295.7
-2484.9
-2337.4
-2166.1
Source: MinFin, VTB Capital Research.
47 RUSSIA Country Report October 2019 ww.intellinews.com