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Taxes on foreign trade and foreigneconomic operations

175476

226842

229256

131%

101%

Other taxes, fees andduties

3648

2271

8817

242%

388%

Tax revenues

675039

949913

965482

143%

102%

Revenue from government property oractivity

25155

24732

28552

114%

115%

Revenue from foreign economicoperations

34560

34387

36403

105%

106%

Other non-tax revenues

2192

4671

4952

226%

106%

Non-tax revenues

61907

63789

69906

113%

110%

Revenues of target budgetaryfunds

60255

89800

92182

153%

103%

Revenues

797201

1109517

1127571

141%

102%

Government administration

25892

26843

25019

97%

93%

National defense

140852

209445

190790

135%

91%

International activities

56119

39487

23042

41%

58%

Law enforcement, security, andjudiciary

87924

111547

113668

129%

102%

Basic research and promotion ofscientific and technological progress

15927

17095

17534

110%

103%

Industry, power engineering andconstruction

20071

38126

35023

174%

92%

Agriculture and fisheries

11505

15440

13352

116%

86%

TABLE 1.6 CONTINUED

Law On the Federal Budget for Year 2000 (Rub.mil.)

Law on amendments and additions to law On theFederal Budget for Year 2000 introduced in connection with extra revenues(Rub. mil.)

Administration of the 2000 federal budget (Rub.mil.)

% of the target

% of the adjusted target

Protection of the environment andnatural resources, hydrometeorology, mapping and geodetic surveying

3738

4074

4112

110%

101%

Transportation, road maintenance,communications and information technology

1639

1901

1852

113%

97%

Preventing and/or eliminating theeffects of emergencies and natural disasters

9027

9599

9450

105%

98%

Education

32099

37644

38117

119%

101%

Culture and arts

4679

5399

5193

111%

96%

Mass media

5725

6140

6096

106%

99%

Health and physicalfitness

15993

16998

16880

106%

99%

Social policy

62997

66758

66330

105%

99%

Expenditures of target budgetaryfunds

60585

97261

97271

161%

100%

Government debt servicing,including:

220069

188722

172211

78%

91%

Domestic debt

63269

63269

54949

87%

87%

External debt

156800

125452

124791

80%

99%

Financial aid to other levels ofgovernment

69149

97274

101381

147%

104%

Other expenditure

135392

121719

193900

143%

159%

Expenditure

855073

1014196

954105

112%

94%

Proficit

-57872

95321

173466

-300%

182%

Administration ofconsolidated and federal
budgets: the Dynamics

For monthly dynamics of the federal andconsolidated budgetary indicators see Table 5. The federal budgetaryrevenues peaked in themiddle of the year (May and June), at that time tax revenues (revenues oftarget budgetary funds excluded) were above 15 per cent of GDP, and the total revenues madeover 17 per cent of GDP. By end-year the indicators of tax revenues and totalrevenues were back to values registered in the beginning of the year and made13.5 to 14 per cent of GDP and 15.5 to 16 per cent of GDP respectively.

The mid-year surge in revenues was caused bygrowing profit tax revenues, which stabilized later in the year at 2.6 percent. At the same time, indirect taxes (first of all VAT) decreased by 1 percentage point to 7.3per cent of GDP from August to the end of the year. The decrease in VATrevenues may be explained by a considerable growth in VAT reimbursements in the second half of year2000.

Profit tax. Profit tax revenues of thefederal budget increasedfrom 1.8 per cent of GDP to 2.6 per cent of GDP (by 83 per cent in comparableprices) over year 2000. They exceeded the original budgetary target by 180 per cent and were by 4per cent higher than it was stipulated by the budget adjusted for extra revenues. The mostimportant factor behind the increase in profit tax revenues (occurring withoutsubstantial changes in the legislation regulating this tax) was a growth inprofits of enterprises and improved payment performance.

Profit tax revenues of the consolidatedbudget increased from 3.3 per cent of GDP in January to 5.8 per cent of GDP inDecember (by 51 per cent in comparable prices). The revenues peaked to 5.9 percent of GDP in June.

Income tax. Incometax revenues of the federal budget were at 0.3 to 0.4 per cent of GDP, whilerevenues of the consolidated budget generated by this tax stabilized at the level of2.2 to 2.4 per cent of GDP (after a traditionally low level of income taxrevenues registered in the first quarter). In year 2000 the income tax revenuesof the consolidated budget increased by one fourth as compared with the previous yearfigures, thus slightlyoutpacing the increase in the federal budgetary income tax revenues. Thisfact may be explained by some redistribution of tax revenues between thefederal and territorialbudgets (territorial budgets disposed of 100 per cent of income tax revenues until April 1, 1999;after this date 3 per cent of the tax were entered to the federal budget, andin year 2000 the rate of income tax revenues due to the federal budget was setat 16 per cent.

Value added tax.The growth in VAT revenues of the federal budget calculated as the percentage of GDP was lessimpressive than that inprofit tax revenues (from 4.9 per cent of GDP to 5.4 per cent of GDP). Incomparable prices VAT revenues by 40 per cent exceeded respective figuresregistered in 1999. Over the year several factors differently affected thelevel of VAT revenues. For instance, the federal budget accumulated extra VAT revenues (about Rub.7,5 billion, or 0.1 per cent of GDP) due to the redistribution of VAT among thelevels of the budgetarysystem. At the same time, there was registered some increase in the amount of VAT reimbursement toexporters (from 0.8 per cent of GDP to 1.5 per cent of GDP, or more thantwofold in comparable prices). Besides, some new items were included in thelist of goods subject to lower VAT rates, what resulted in less revenues (byabout Rub. 5.6 billion, or 0.1 per cent of GDP).

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