Thursday, December 11, 2008

MOF recorded in the November budget deficit.

For 11 months of 2008, the federal budget surplus Russia amounted to 2.48 trillion rubles. This is stated in an official press release, the Ministry of Finance. Given that over 10 months, the surplus stood at 2.75 trillion rubles in November 2008 was recorded budget deficit. In other words, in the last month of autumn state spent about 270 billion rubles more than received.
According to the Ministry of Finance for 11 months, budget revenues amounted to more than 8.6 trillion rubles. Over 10 months, the figure stood at 8.09 trillion rubles. Expenditures for the 11 months exceeded the mark of 6.18 trillion rubles, and for 10 months - to 5.35 trillion rubles.
In early November, Assistant to the President for Economic Affairs of Russia Arkady Dvorkovich said that Russia's budget deficit in coming months is not threatened. But he stressed that the Government was in any case would carry out its obligations in full.
The budget deficit in November may occur for several reasons. First, it involves a sharp drop in the cost of raw materials on world markets, resulting in lower revenues of Russian companies, and consequently the budget, from exports of oil and metals. Moreover, the deficit could affect the increase in public spending, as officials have spent considerable resources to combat the effects of the global financial crisis.
Recall that the fall of 2008 was enacted budget for 2009-2011. It states that the three-year income countries will exceed the costs. However, most likely the main macroeconomic indicators budget will be reviewed as they were foreseen even before the crisis. For example, the budget indicated that the average price of oil in 2009 would be about $ 95 a barrel. For comparison, in December 2008, oil traded in the region of 40-50 dollars per barrel.

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