MOSCOW, November 7Oil and gas revenues of the Russian budget in January-October decreased by 26.3%, to 7.21 trillion rubles, non-oil and gas revenues increased by 28.7%, to 15.896 trillion rubles, according to materials on the Ministry of Finance website.
«Non-oil and gas revenues of the federal budget amounted to 15,896 billion rubles and increased by 28.7% year-on-year. The dynamics of receipt of the largest non-oil and gas revenues of the federal budget (turnover taxes, income tax) remains in a consistently positive area — including the level of 2021 (as less susceptible to statistical base effects),» the report says.
In general, according to the ministry, the volume and trajectory of non-oil and gas revenues for January-October 2023 indicate a significant excess of dynamics , laid down in the current budget law for the current year.
“Oil and gas revenues amounted to 7,210 billion rubles and decreased by 26.3% year-on-year, which is due to the high comparison base of last year, a decrease in Urals oil prices at the beginning of the year, lower prices and a reduction in natural gas export volumes,” — the message says.
The monthly dynamics of oil and gas revenues remains at a level significantly higher than their base size (8 trillion rubles per year), while in October 2023 the volume of oil and gas revenues exceeded the level of last year by more than 27%, the Ministry of Finance clarifies.
“The accumulation of additional oil and gas revenues during periods of favorable price conditions and the use of National Welfare Fund funds to cover lost oil and gas revenues in accordance with the parameters of the “fiscal rule” ensures the stability of the budget system to fluctuations in the flow of oil and gas revenues,” the message emphasizes.
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