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Finance ministry sees shortfall in Russia’s expected oil and gas revenues in March

Therefore, the total amount of funds allocated for sale of foreign currency amounts to $1.5 bln

MOSCOW, March 3. /TASS/. In March 2023, Russia’s federal budget is expected to see a shortfall of 132.1 bln rubles ($1.75 bln) in oil and gas revenues, according to preliminary estimates, the Finance Ministry revealed in a statement through its Telegram channel on Friday.

"The federal budget’s additional oil and gas revenues are projected in the amount of minus 132.1 bln rubles in March 2023. The deviation from virtually received oil and gas revenues from the expected monthly amount of oil and gas revenues in February 2023 totaled 12.3 bln rubles," the statement reads.

Therefore, the total amount of funds allocated for sale of foreign currency amounts to 119.8 bln rubles ($1.5 bln). Transactions will be carried out from March 7, 2023, to April 6, 2023, respectively, with daily amount of foreign currency sale equaling 5.4 bln rubles, the ministry noted.

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