Real General Government Final Consumption Expenditure for Russia
NCGGRNSAXDCRUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,504,383.70
Year-over-Year Change
10.27%
Date Range
1/1/2011 - 10/1/2024
Summary
The 'Real General Government Final Consumption Expenditure for Russia' series measures the real (inflation-adjusted) value of government spending on goods and services in Russia. This is an important economic indicator for analysts tracking Russia's fiscal policy and economic performance.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This indicator represents the total real value of government purchases of goods and services, excluding transfer payments and interest on public debt. It is a key component of Russia's gross domestic product (GDP) and provides insight into the government's role in the economy.
Methodology
The data is calculated by the World Bank using nominal government consumption expenditure figures and adjusting for inflation.
Historical Context
This metric is used by economists, policymakers, and market analysts to assess the Russian government's fiscal stance and its impact on economic growth.
Key Facts
- Russia's real government consumption expenditure was $371 billion in 2021.
- Government spending accounts for around 18% of Russia's GDP.
- Real government consumption grew by 2.7% in 2021 after declining in 2020.
FAQs
Q: What does this economic trend measure?
A: This series measures the real (inflation-adjusted) value of government spending on goods and services in Russia, excluding transfer payments and interest on public debt.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the Russian government's fiscal stance and its impact on overall economic performance. It is a key component of GDP and is closely watched by economists and policymakers.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using nominal government consumption expenditure figures and adjusting for inflation.
Q: How is this trend used in economic policy?
A: This metric is used by economists, policymakers, and market analysts to assess the Russian government's fiscal stance and its impact on economic growth. It informs policy decisions related to government spending, taxation, and fiscal management.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be revisions to historical figures as more information becomes available.
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Citation
U.S. Federal Reserve, Real General Government Final Consumption Expenditure for Russia (NCGGRNSAXDCRUQ), retrieved from FRED.