Russia's federal budget surplus for 2005 amounted to RUR1.61 trillion (approx. $57.75bn), up from RUR730bn (approx. $26.14bn) in 2004, the Federal State Statistics Service (Rosstat) reported, citing data from Russia's Federal Treasury.Great news for the Russian government and Russian people. Inflation is still a concern, as Putin discussed today - but the economy is growing, stock market doubled last year, and tax revenues are growing.
The federal budget's revenues for the same period were RUR5.125 trillion (approx. $183.5bn), up from RUR3.43trillion (approx. $122.77bn) in 2004.
Expenditures for the period totaled RUR3.51 trillion (approx. $125.75bn), against RUR2.69 trillion (approx. $96.63bn) in 2004.
So how about a pay raise for soldiers, a pay raise for pensioners, and maybe building some highways and other basic infrastructure? A citizen shouldn't have to flash their passport to travel easily from Moscow to St. Petersburg - not in a nation with Superpower aspirations. Further, improvements in infrastructure (transportation and communication) will allow this continued economic growth to spread beyond the borders of the Nation of Moscow ... into the Nation of Russia.
Related item: Putin slams Cabinet for inflation growth
Russian President Vladimir Putin has severely criticized the government for having considerably exceeded the target of inflation growth. In his address to Cabinet members during his traditional Monday meeting in the Kremlin, the President said that inflation has shot up by 4 percent in the first two months of 2006, whereas the ceiling for consumer price growth in the whole of 2006 is set at 8.5 percent. Despite lengthy discussions at the end of 2005 about taking concrete measures to reduce inflation, the results did not match expectations, the President noted, as cited by Rossiya TV.