Federal budget surplus reaches $2.44bn in Russia

The federal budget surplus reached RUR77.47bn ($2.44bn) in Russia in the first 10 months of 2002, which is equal to 0.87% of the GDP. A source in the Finance Ministry of Russia reported this information to RBC.

The revenues to the federal budget amounted to RUR1.8 trillion ($56.66bn) over that period, which is equal to 20.2% of the GDP, and the expenditures reached RUR1.72 trillion ($54.14bn - 19.33% of the GDP). The Gross Domestic Product amounted to RUR8.91 trillion ($280.45bn) in the first 10 months of this year. The amount of the initial surplus was RUR271.4bn ($8.54bn), or 3% of the GDP.

The amount of funds received from the Tax Ministry reached RUR1.22 trillion ($38.4bn) in January-October, and RUR471bn ($14.83bn) were received from the State Customs Committee.

As it was reported earlier, the Russian government planned to form a financial reserve of RUR197.4bn ($6.21bn) by the end of 2002.