Russia Budget surplus is the actual amount of cash that surpasses spending over a particular period of time. In the period January-April 2003, the federal budget surplus in Russia touched 31.7 billion rubles. The State Statistics Committee of Russia declared that in the first quarter of 2002, Russia's federal budget surplus touched 108 billion rubles(US$3.44 billion), which was 49.2 billion rubles in the corresponding quarter of last year.
Effects: Russia Budget Surplus
Under normal conditions, a government with a budget surplus opts for new plans or resorts to a tax cut. Some renowned economists believe that budget surplus decelerates economic growth of the country. Generally, a budget surplus without apparent planning leads to economic prosperity.
Statistical report
- In 2003, Russia's Budget surplus touched 0.8% of the GDP (Gross Domestic Product) and in the period January-April the Federal Budget surplus in Russia reached 31.7 billion rubles. In the first four months of the year 2003, Russia's primary budget surplus touched 121.3 billion rubles which was 3.24% of GDP for that period.
- In 2004, Russia's budget surplus touched 686.5 billion rubles, which was 4.1% of GDP (Gross Domestic Product). The Russian budget revenue touched 3,422.26 billion rubles in 2004 , whereas the budget spending reached 2,735.745 billion rubles.
- In 2005, the federal budget income touched 5.1 trillion rubles, which was about eight times greater than income in 1999. In 2006, the federal budget surplus was expected to touch 405 billion rubles.
- The Finance Ministry of Russia declared that in the first 8 months (January-August) of 2007, Russia's budget surplus touched 1.4 trillion rubles ($56 billion). In the same period of time, revenue touched 4.5 trillion rubles ($176 billion) and expenditure touched 3 trillion rubles ($120 billion).
As of September 1, 2007, the amount in Stabilization Fund touched 3.4 trillion rubles ($133 billion) and the primary surplus touched 1.5 trillion rubles ($60 billion).
A market research by the World Bank and the IMF (International Monetary Fund) has shown that an increase in the price of oil has increased the revenue by 0.35%.