Finance Ministry Announces 2007 Consolidated Budget Results
4 February 2008
According to the Finance Ministry, 2007 consolidated budget income totaled USD 43.6 bln, while expenditures amounted to USD 44.6 bln. State budget income came to USD 32.9 bln (+4.2% of the planned amount) and expenditures to USD 34.5 bln (-2.3% of planned), which brought the deficit to almost twice less than planned (USD 3.1 bln) to USD 1.9 bln. We had forecasted the shortfall to be slightly lower than the Ministry (USD 2.7 bln). In other news, the Finance Ministry reported that in January, income to the general fund of the state budget exceeded the planned amount by 7% and totaled USD 2.22 bln (+48% yoy). The 2008 state budget law plans for income to the general fund of USD 33.5 bln and expenditures of USD 36.9 bln.
