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Russia’s non-oil and gas revenues to exceed plan by $10.84 bln in 2023 — minister

The Ministry of Finance anticipates a considerable development in non-oil and gas industries

MOSCOW, July 31. /TASS/. Russia’s non-oil and gas revenues will exceed the plan by 1 trillion rubles ($10.84 bln) due to the growth of VAT, turnover taxes, and excess profit tax, Finance Minister Anton Siluanov said in an interview with TASS.

"We have already said that the volume of non-oil and gas revenues surpasses the plan - according to estimates, it will exceed 1 trillion rubles due to an increase in VAT, turnover taxes and a one-time tax on excess business revenues," the minister said.

Earlier, Siluanov told reporters that Russia’s budget revenues will increase in 2023-2024, and the Ministry of Finance anticipates a considerable development in non-oil and gas industries.