Oil and gas revenues of Russia decreased by 52% in January-April

Oil and gas revenues to the Russian budget in January-April of this year amounted to 2.2 trillion rubles, which is 52% less than the same period last year. About it reported at the Ministry of Finance of the Russian Federation.

“Oil and gas revenues amounted to 2.2 trillion rubles. and decreased by 52% year-on-year, which is associated with a high base of comparison last year, a decrease in quotations for Urals oil and a decrease in natural gas exports.

The department noted that the use of funds from the National Wealth Fund (NWF) of Russia allows to ensure “the stability of the budget system to fluctuations in the flow of oil and gas revenues.”

In addition, the Ministry of Finance emphasized that non-oil and gas revenues for this period correspond to the dynamics noted during the formation of the budget law.

May 4 department reportedthat the federal budget received less than 32.4 billion rubles. oil and gas revenues in April. Then the Ministry of Finance allocated 40.4 billion rubles for the sale of foreign currency. The ministry also predicted that in May the Russian budget would receive less than 8 billion rubles.

Earlier, Vedomosti wrote that federal budget revenues amounted to 5.7 trillion rubles. according to the results of January – March 2023, which is 21% lower than the first quarter of 2022. The decrease is due to a decrease in income from energy exports, the Ministry of Finance explained then.

The deficit in the first quarter of 2023 amounted to 2.4 trillion rubles. after 2.6 trillion rubles. in January – February. In the first quarter of 2022, the budget was executed with a surplus of 1.1 trillion rubles.