Page 57 - RusRPTJun19

6.1.1 Budget dynamics - results
Russia posted RUB683bn ($10.6bn) or 2.1% of GDP surplus for the federal budget in January-April of 2019, the Finance Ministry said on May 17. The budget showed RUB6.4 trillion in revenues (32% of annual target) and RUB5.7 trillion of expenditures (31.5% of annual target).
Notably, the first-quarter surplus has been revised from previous 2.2% of GDP to 2.7% of GDP or RUB666bn. In April alone the federal budget posted RUB17.4bn surplus, making a 0.2% of GDP surplus. The average Urals oil price in January-April stood at $65.2 per barrel.
This year the ministry plans to post a RUB1.9 trillion surplus of 1.7% of GDP. In 2018 the federal budget recorded the first surplus since 2011, posting a record surplus of 2.7% of GDP.
57 RUSSIA Country Report June 2019 www.intellinews.com