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Russian budget deficit provisionally stands at $16.5 bln in 2M 2024 — Finance Ministry

Non-oil and gas revenues of the Russian budget soared by 53.5% year on year in January - February 2024 against the like period of the last year, the Finance Ministry informed

MOSCOW, March 7. /TASS/. The Russian federal budget deficit is provisionally estimated at 1.5 trillion rubles ($16.5 bln) in January - February 2024, the Russian Finance Ministry said on its website.

Russian budget revenues totaled 5.025 trillion rubles ($55.4 bln) in January - February 2024. Expenditures in the same period were 6.5 trillion rubles ($71.6 bln) for the federal budget.

Non-oil and gas revenues of the Russian budget soared by 53.5% year on year in January - February 2024 against the like period of the last year, the Finance Ministry informed.

"Non-oil and gas revenues of the federal budget totaled 3.405 trillion rubles ($37.5 bln) rubles and surged by 53.5% year on year, compared to the lower level of the largest received non-oil and gas budget revenues in the like period of the past year," the ministry noted.

According to a preliminary estimate, oil and gas revenues of the Russian budget surged by 71.2% year on year in January - February 2024 to 1.621 trillion rubles ($17.9 bln), the ministry stressed.

"Oil and gas revenues totaled 1,621 bln rubles, significantly above indicators of the like period in the last year (by 71.2% y-o-y), predominantly in consequence of the price hike for Russian oil and the one-off receipt of the additional payment for the mineral extraction tax on oil for the fourth quarter of 2023, related to change in laws as regards the refund of the excise on oil feedstock," it added.

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