Home / Oil / Oil and gas revenues in Russia fell by a third

Oil and gas revenues in Russia fell by a third

Нефтегазовые доходы России сократились на треть

Oil and gas revenues to the Federal budget of Russia for two months in 2016 fell almost 32 percent compared to the same period last year. They amounted to 687,68 billion. Relevant information is contained in the operational report of the accounts chamber.

In January-February of 2015, the Treasury received 1.05 trillion of oil and gas revenues. According to the government forecast, in 2016 their will be total of 6.04 trillion rubles.

For the first two months of 2016 revenue budget was 1.84 trillion rubles. Of these, 37.3 per cent were oil and gas revenues (in January-February last year — 45.9%).

The report of the accounting chamber also notes that the budget has received 24,40 billion “outstanding income”. Audit office notes that the existence of such income indicates the mismatch between the “principle of completeness of income in the Federal budget, established by article 32 of the Budget code of the Russian Federation”.

March 24, Finance Minister Anton Siluanov said that Russia’s economy move away from oil dependence, beginning to heal from the “Dutch disease”. “Breathing the industries that in recent years, the years of high oil prices — was at a standstill, the so-called non-tradable sector. Our economy gets rid of the so-called Dutch situation, where we were sick all last years” — said the Minister.

A day earlier, Deputy Prime Minister Arkady Dvorkovich said that the Russian economy adjusted to low oil prices and the depreciation of the ruble will help to increase the supply of goods in China and Europe. “We hope that the quotes will remain approximately at the current level,” — said Dvorkovich.

Check Also

Coalition forces the US to attack oil tankers in Syria

Forces under the leadership of the United States blew up three oil tankers in Syria, …