Federal Budget surplus reached $1.19bn in January

According to a preliminary estimate by the Finance Ministry of Russia, the Federal Budget surplus amounted to RUR37.8bn ($1.19bn) in January 2003, which was equal to 26.3% of the expenditures, or 4.5% of the estimated GDP for January. The initial surplus reached RUR52.3bn ($1.64bn), which was equal to 6.2% of the estimated GDP for January 2003.

The amount of budget revenues reached RUR181.5bn ($5.7bn), which is equal to 110.1% of the corrected estimate approved by the Finance Ministry for January. The amount of expenditures reached RUS143.7bn ($4.51bn), which was equal to 93.1% of the corrected estimate for January.

The Finance Ministry reported that according to a preliminary estimate, balances at accounts for controlling federal budget funds (not including balances at accounts of recipients of budget funds) increased by RUR78.7bn ($2.47bn) as of February 2003.