The share of oil and gas revenues in the Russian budget has dropped to its lowest level in 16 years
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In January-September 2023, oil and gas revenues of the federal budget amounted to 28.3% of all revenues, the share decreased by almost 15 percentage points. compared to the same period in 2022, follows from the analytical note of the Accounts Chamber on the progress of budget execution, which I have read RBC. The share of oil and gas revenues in federal budget revenues has dropped to its lowest level since 2007.
In absolute terms, income decreased by 1.5 times, to RUB 5.58 trillion. Auditors of the Accounts Chamber explained this dynamics by a decrease in the average price of Urals oil and natural gas. At the same time, non-oil and gas revenues are growing: over three quarters they increased by 2.93 trillion rubles to 14.16 trillion rubles.
November 17 State Duma accepted the federal budget for 2024 and the planning period 2025–2026 are in final reading. According to the document, oil and gas revenues next year will provide 32.8% of revenue. In 2025, their share will increase to 35%, then drop to 33.5%. At the same time, for all three years, the projected volume of additional oil and gas revenues will be about 1.8 trillion rubles.
Read more in the Kommersant article. “The Accounts Chamber took a closer look at the budget”.
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