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Russia posts budget surplus of $72.7 bln in 2007

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MOSCOW, January 17 (RIA Novosti) - Russia's budget posted an estimated surplus of 1.782 trillion rubles ($72.7 billion) in 2007, compared with 1.992 trillion rubles ($81.3 billion) in 2006, the Finance Ministry said on Thursday.

Russia's budget surplus stood at 5.9% of GDP in 2007, the ministry said.

The ministry said payments to the Stabilization Fund, set up to accrue surplus oil revenues as a safeguard against financial upsets similar to the 1998 financial crisis, stood at 1.903 trillion rubles ($77.7 billion) in January-December 2007.

As of January 1, 2008, Russia's Stabilization Fund stood at 3.85 trillion rubles ($157 billion).

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