The revenues of the Russian federal budget totaled RUR2.964tn ($100.2bn, or (EURO)76.3bn) in January-March 2012, or 25.2% of the plan for the year set out in the law on the 2012 budget, according to the Finance Ministry’s preliminary estimates.

Spending amounted to RUR3.085tn ($104.3bn, or (EURO)79.4bn) or 24.4% of the plan.

The federal budget was executed with a deficit of RUR121.32bn ($4.1bn, or (EURO)3.1bn), or 0.9% of GDP. Primary deficit equaled RUR9.86bn, or 0.1% of GDP.

Last year, the first quarter saw a surplus of RUR121.3bn or 1.1% of GDP.