All news

Russia’s tax revenues rise by 31% to $315.78 bln in 1H 2024 — Federal Tax Service

Head of Russia's Federal Tax Service Daniil Egorov also noted that the volume of oil and gas budget revenues increased by 43.4% in the first half of the year

MOSCOW, August 6. /TASS/. Tax revenues to the Russian budget in January - June 2024 increased by 31% to 26.9 trillion rubles ($315.78 bln), Head of Russia's Federal Tax Service Daniil Egorov said at a meeting with Russian Prime Minister Mikhail Mishustin.

"If we talk about revenues to the budget system in general, then it is almost 27 trillion rubles, or 26.9 trillion to be precise. Our growth is 31%, and in absolute terms it is 6.4 trillion rubles," Egorov said.

He also noted that the volume of oil and gas budget revenues increased by 43.4% in the first half of the year. "Oil and gas revenues look very good, which, of course, affects federal budget revenues," he said.

Egorov added that the plan for revenues of the Russian budget will be fulfilled in 2024. "By the end of the year, we predict that the budget will be fulfilled. We do not see any significant problems here," Egorov said.

In turn, Mikhail Mishustin said that the Russian economy is growing faster than previously forecast. "Our economy continues to grow faster than our forecasts. The growth is quite serious. In particular, in the first half of [2024] the industrial sector grew by more than 5%," he said.