The Russian budget will spend 0.4 trillion rubles. for damper payments in January – Kommersant
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According to Reuters calculations, if the State Duma approves the bill on the return of damper payments to oil refiners, the Russian budget will spend about 0.4 trillion rubles in January 2024. In addition, the budget will lose another 0.35 trillion rubles. due to reduced taxes on oil production.
Reuters notes that if the Federation Council and President Vladimir Putin adopt amendments on damping subsidies in November, they will come into force in January next year. This means that subsidies will have to compensate for unpaid amounts for October, November and December. In total, this compensation will amount to 0.4 trillion rubles.
According to Reuters, the budget loss is 0.35 trillion rubles. is explained by a decrease in the mineral extraction tax (MET), which in October-December was calculated based on the CVR coefficient of 0.5 instead of 1.
According to the Ministry of Finance, at the end of nine months of 2023, the total amount of damper payments reached 1.1 trillion rubles, which is 38% less than the same figure for 2022. According to Kommersant, as additional measures to stabilize wholesale prices for petroleum products, the government is discussing increasing the reduction factor introduced in September from 0.5 to 0.8–1, which will increase compensation for oil workers. According to one of Kommersant’s interlocutors, the new damper is planned to be launched in November.
Read more in the Kommersant article. “Fuel masters defense mechanisms”.
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