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Loans, redemption exclusive

0,1%

0,3%

0,5%

0,4%

0,0%

0,0%

0,0%

0,0%

0,0%

0,0%

0,0%

-0,1%

0,0%

Expenditure and loans, redemption exclusive

12,6%

12,7%

13,8%

13,8%

13,8%

13,6%

13,3%

13,2%

12,9%

12,7%

12,8%

13,7%

10,2%

Budget deficit (-)

2,9%

3,1%

2,2%

2,8%

3,4%

3,4%

3,4%

3,2%

3,1%

3,0%

3,1%

2,5%

5,7%

Domestic financing

-0,5%

-1,5%

-0,3%

-0,3%

-1,1%

-0,6%

-0,6%

-0,6%

-0,7%

-0,4%

-0,5%

0,0%

-3,7%

External financing

-2,4%

-1,6%

-1,9%

-2,5%

-2,3%

-3,2%

-2,9%

-2,7%

-2,4%

-2,7%

-2,5%

-2,5%

-2,1%

Total financing

-2,9%

-3,1%

-2,2%

-2,8%

-3,4%

-3,7%

-3,4%

-3,2%

-3,1%

-3,0%

-3,1%

-2,5%

-5,7%

The data on execution of the federal budget over January 2001 is presented in Table 11. According to results of the first month of 2001, the federal budget revenue account for 16% of GDP, including tax revenues- 15%, while expenditure made up 10.2% of GDP, including non-interest one- 7% of GDP. The budget proficit level accounted for 5.7% of GDP.

In January, the execution of the federal budget demonstrated a record-breaking level of tax returns. Thus, despite a traditionally low corporate profit tax and the decrease in the amount of personal income tax, due to the redistribution of its proportions in favor of territorial budgets, the overall level of tax revenue was substantially higher that the respective indices of the prior years (15% of GDP). The rise in taxes became possible thanks to the growth in VAT returns (at 0.5 per cent points), excises (at 0.2 per cent points) and taxes on foreign trade (at 0.5 per cent points).

A sharp contraction in the expenditure part vs. January 2000 ( roughly by 2.5 per cent points) is attributed to a lower level of spending on judicial power (at 2.8 per cent points), public debt servicing (0.5 per cent points), international activities (0.4 per cent points), and other kinds of expenditure (0.9 per cent points), with no spending by the targeted budgetary funds (0.9 p.p.), along with a simultaneous rise in expenditure on national defense (1.3 p.p.) and financial support of other tiers of government ( 2.4 p.p.).

The preliminary results of the execution of the federal budget between January to February testify to the ongoing growth in the budget revenue. Thus, the respective level accounted for slightly over 18% of GDP, with the level of expenditure making up a. 19.5% of GDP and the primary proficit of the federal budget being about 4.5% of GDP. The main sources of financing budget deficit over the two months in question were: legal entities’ own deposits- a. Rb. 31 bln. (2.7% of GDP), domestic borrowing (Rb. 7 bln., or 0.6% of GDP) and sales of the state stock of precious metals and stones- over Rb. 3 bln. (0.3% of GDP).

Since the beginning of the year, over Rb. 95 bln. were spent on financing interest expenditure and repayment of the principal body of the debt, including on the domestic debt- a. 20 bln. (1.8% of GDP) and on the external debt- 75 bln. (6.8% of GDP).

According to Goskomstat, as of early March, the federal budget’s backwages totaled a. Rb. 1 bln., with the territorial budgets’ wages arrears a. Rb. 4 bln.

In early 2001 the level of receipts from personal income tax exceeded the respective indices of the prior year substantially. Thus, the volume of the receipts in January exceeded Rb. 14 bln., and another 16 bln- in February. Hence, the receipts from personal income tax to consolidated budget amounted to 2.4% of GDP, and 2.8% of GDP for the period between January through February (For reference: the respective indices of the prior year were 1.9% and 2.0% of GDP, respectively). There also was a substantial growth in terms of corporate profit tax- 3.5% of GDP in receipts to consolidate budget in January and 4% of GDP over the period between January through February (3.3% of GDP for the both periods in 1999). The VAT receipts to consolidated budget in the shares of GDP equivalent reduced from 7.2% in January 2000 to 6.7% -in January 2001. The receipts from excises slightly grew in January 2001 compared with January 2000- by 0.2 p.p, or 2.4% of GDP, while the single social contributions totaled over Rb. 6.5 bln. (1.1% of GDP) in January 2001 and over 37 bln.(4.0% of GDP) between January through February 2001.

Table 2.

The actual tax revenue to the federal budget, according to MTC ( in prices of January 1998)

1999
I	II	III	IV	V	VI	VII	VIII	IX	X	XI	XII
10067	11586	12281	12287	10524	11369	12785	12838	12514	14238	16190	21455
2000
I	II	III	IV	V	VI	VII	VIII	IX	X	XI	XII
15030	16161	18247	20714	23469	18817	18219	18762	17422	18232	20306	25579
2001
I	II
20580	19978

Таблица 3

Исполнение консолидированного бюджета РФ (в % ВВП).

1998
	I	II	III	IV	V	VI	VII	VIII	IX	X	XI	XII
Налоги	16,2%	17,4%	18,1%	19,3%	19,7%	19,8%	19,8%	19,4%	18,8%	18,5%	18,6%	50482
Доходы	18,8%	20,1%	21,2%	22,4%	23,0%	23,2%	23,2%	22,9%	22,3%	22,0%	22,0%	24,5%
Расходы	25,3%	23,8%	27,0%	28,1%	28,6%	29,5%	29,4%	28,6%	27,4%	26,9%	27,1%	29,5%
Дефицит	-6,5%	-3,7%	-5,8%	-5,7%	-5,7%	-6,3%	-6,2%	-5,7%	-5,2%	-5,0%	-5,0%	-5,1%
1999
	I	II	III	IV	V	VI	VII	VIII	IX	X	XI	XII
Налоги	16,8%	16,6%	18,1%	19,9%	20,1%	20,5%	20,8%	20,8%	20,3%	20,2%	20,9%	22,1%
Доходы	19,2%	18,9%	20,6%	22,7%	23,2% Pages:     | 1 | 2 | 3 | 4 |   ...   | 9 |    Книги по разным темам