Oil and gas budget revenues have decreased by 22% since the beginning of the year – Kommersant

For the period from January to November 2023, federal budget revenues amounted to 25.96 trillion rubles, which is 4.8% higher than in the first 11 months of last year. Non-oil and gas revenues of the Russian budget reached 17.7 trillion rubles during the reporting period. and increased by 25.6% year on year, follows from the preliminary assessments Ministry of Finance of Russia. At the same time, oil and gas revenues in January-November amounted to 8.2 trillion rubles, which is 22.8% lower than for the same period in 2022.

The agency linked the drop in income in this sector with the high comparison base of last year, the decline in prices for Urals oil at the beginning of the year, the decline in prices and the reduction in natural gas export volumes.

According to the ministry, federal budget expenditures for 11 months of this year amounted to 26.8 trillion rubles, which is 11.7% higher than the figures for the same period in 2022. Thus, the budget deficit accumulated in January-November amounted to about 0.84 trillion rubles.

In January-October the budget deficit amounted to about 0.7% of GDP, or 1.235 trillion rubles. In January-October, non-oil and gas revenues to the budget amounted to 15.9 trillion rubles, oil and gas revenues – 7.21 trillion rubles. In total, all federal budget revenues for ten months amounted to 23.11 trillion rubles.

November 22, Russian Finance Minister Anton Siluanov statedthat the Russian federal budget deficit by the end of 2023 is expected to be 1% of GDP. In the current budget, the deficit is expected to be 2% of GDP (RUB 2.9 trillion). According to the Accounts Chamber, the share of oil and gas revenues of the Russian budget in January-September dropped to the minimum (28.3%) in 16 years.

Earlier, Kommersant found out that the Russian government intends to directly assign responsibility for the budget deficit to some governors. We are talking about the heads of four “old” subjects – Chechnya, Ingushetia, Dagestan and Tuva, as well as four “new” ones – Donetsk and Lugansk people’s republics, Kherson and Zaporozhye regions.

Read more about this in the material “Donations against signature”.

Erdni Kagaltynov