Federal budget surplus dropped to Rub 1,076 bln in January-June 2007.

In the first six months of 2007 the Russian federal budget ran a surplus of Rub 1,076 bln, the Federal Statistics Service reported Friday. Meanwhile, surplus totaled Rub 1,083 bln in H106. In January-June 2007, federal revenue amounted to Rub 3,245.7 bln against Rub 2,938.1 bln in H106. Federal spending (including financial support to the budgets at all levels) equaled Rub 2,169.7 bln compared to Rub 1,854.7 bln in January-June 2006. As regards the federal budget surplus in H107, VAT paid for goods sold in Russian territory totaled Rub 598.7 bln, VAT paid on exports equaled Rub 378.4 bln, earnings from foreign trade activities came to Rub 1,042.7 bln, taxes, duties and regular payments for the use of natural resources totaled Rub 503.4 bln, subsoil use payments amounted to Rub 27.3 bln, excise duties imposed on goods manufactured domestically amounted to Rub 49.9 bln, excise duties imposed on goods exported to Russia were equal to Rub 11.8 bln, corporate profit tax payments totaled Rub 263.2 bln, the unified social tax paid by enterprises came to Rub 184.9 bln and revenues from the lease of state and municipal assets aggregated Rub 41.9 bln. As for the structure of federal spending, in H107 national defense expenses (Rub 355.1 bln) prevailed, with Rub 280.5 bln spent on national security and law enforcement activities, Rub 287 bln on social and cultural events and Rub 249 bln on federal issues (including Rub 63 bln on the servicing of federal and municipal debts) and Rub 164.2 bln on the national economy. Inter-budget transfers totaled Rub 814.4 bln.

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[Source: Russian Stock Market Blog]