The Cabinet of Ministers expects the growth of oil and gas revenues in Russia in the coming months
[ad_1]
The Russian government is counting on an increase in the country’s oil and gas revenues in the near future, Prime Minister Mikhail Mishustin said at the meeting on economic issues.
In July, oil and gas revenues rose by 5% year-on-year, exceeding the figure approved by the budget rule by 73 billion rubles, he noted.
“We expect that they will grow in the coming months,” Mishustin said.
The Prime Minister also noted the growth of non-oil and gas revenues by 20% over the seven months.
“It is necessary to take into account all possible risks, respond quickly to them, do everything that is necessary to maintain financial and budgetary stability and ensure sustainable growth,” he added.
Federal budget revenues for January-July 2023 decreased by almost 8% compared to the same period last year to 14.5 trillion rubles, the Finance Ministry said earlier. The federal budget deficit of Russia in January-July amounted to 2.81 trillion rubles, or 1.8% of GDP.
Oil and gas revenues in July exceeded 800 billion rubles. This is 5% more than the previous year. This is the largest monthly value since the beginning of the year. Monthly revenues for January-June did not exceed 690 billion rubles. By August, the monthly dynamics of oil and gas revenues had reached a trajectory that exceeded their base level, the ministry recalled. In the last month of summer, the Ministry of Finance expects super-profits from the sale of energy resources.
[ad_2]
Source link
