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Russia’s 2015 budget revenues to fall by $35 bln — minister

February 11, 2015, 17:20 UTC+3 GORKI

The reason is largely a contraction in oil and gas revenues by $33 billion

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© Vladimir Smirnov/TASS

GORKI, February 11. /TASS/. The Russian budget’s revenues will decline by 2.3 trillion rubles ($35 billion) in 2015 amid the falling value of the country’s gas and oil exports, Economic Development Minister Alexey Ulyukayev said on Wednesday.

"Under a forecast, budget revenues will decline by 2.34 trillion rubles largely through a contraction in oil and gas revenues by 2.2 trillion rubles [$33 billion]," Ulyukayev told a government meeting.

The economy minister said he was not sure whether it was generally expedient to cut budget expenditures "because any change in revenues may mean either spending cuts or an increase of the budget deficit."

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