The Russian budget in April may not receive 113.6 billion rubles of oil and gas revenues
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The federal budget of Russia in April may not receive additional oil and gas revenues in the amount of 113.6 billion rubles, predicts Ministry of Finance.
“The expected volume of additional oil and gas revenues of the federal budget is projected in April 2023 in the amount of -113.6 billion rubles,” the report says.
At the same time, the deviation of actually received oil and gas revenues from their expected monthly volume in March amounted to 39 billion rubles.
As a result, the sale of foreign currency (the Central Bank sells yuan on behalf of the department) under the budget rule will amount to 74.6 billion rubles. The Ministry of Finance was going to sell the currency for 119.8 billion rubles from March 7 to April 6. (5.4 billion rubles per day), therefore, the reduction will be 37.7%. Operations will be carried out from April 7 to May 5, the daily sales of yuan will amount to the equivalent of 3.7 billion rubles.
How wrote earlier than Vedomosti, the reduction in interventions means that the expected volume of oil and gas revenues is returning to the base level – the value established by law. The value for the whole year is set at 8 trillion rubles. For each month, the volume of basic oil and gas revenues is set separately – 670 billion rubles. in April, 672 billion in May, 664 billion in June. The value of currency sales is the difference between the base value and actual receipts. When revenues overcome the bar, the Ministry of Finance, on the contrary, begins to buy foreign currency from the NWF.
Earlier, the Ministry of Finance announced that the federal budget deficit in January-February 2023 was preliminary made up 2.58 trillion rubles, which is 25% lower than the volume of income received in January-February 2022. Expenditures amounted to 5.74 trillion rubles, which is 52% more than a year earlier. Oil and gas revenues amounted to 947 billion rubles. and decreased by 46%, which is primarily due to a decrease in quotations for Urals oil and a decrease in natural gas exports, the ministry noted.
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