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Oil and gas revenues of Russian budget down 38.2% in 8M 2023 — Finance Ministry

Accumulation of extra oil and gas revenues during periods of the comfortable price situation provide for the budgetary system resilience to fluctuations in receiving oil and gas revenues

MOSCOW, September 8. /TASS/. Oil and gas revenues of the Russian federal budget totaled 4.836 trillion rubles ($44.76 bln) in January - August 2023, which is 38.2% lower than a year ago, the Finance Ministry said on its website.

"Oil and gas revenues stood at 4.836 trillion rubles and declined by 38.2% in annual terms, which is associated with the high comparison base of the last year, the decline in Urals oil blend prices, and contracted natural gas export volumes," the ministry said.

Accumulation of extra oil and gas revenues during periods of the comfortable price situation and use of National Wealth Fund resources to cover shortfalls in oil and gas revenues in line with fiscal rule parameters provide for the budgetary system resilience to fluctuations in receiving oil and gas revenues, the ministry added.

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