The Ministry of Finance expects half a trillion rubles in oil and gas additional revenues in October

Ministry of Finance reported, that the projected volume of additional oil and gas budget revenues for October will amount to 513.48 billion rubles. The department will increase daily currency purchases to 18.12 billion rubles from October 6 to November 7. (the previous volume was 13.15 billion rubles daily).

The total volume of funds allocated for the purchase of yuan and gold will amount to 398.72 billion rubles. “The deviation of actually received oil and gas revenues from the expected monthly volume of oil and gas revenues at the end of September 2023 amounted to -114.76 billion rubles,” says the department’s press release.

At the end of September, Prime Minister Mikhail Mishustin statedthat the most difficult period for the Russian economy has passed, but the oil and gas sector needs the most time to adapt due to the severance of ties with Western partners. Ministry of Finance awaits in 2024, oil and gas revenues will grow by almost a third compared to the current year – from 8.86 trillion to 11.5 trillion rubles.

Details – in the material “Kommersant” “Acceleration with braking”.

Laura Keffer