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Russia’s oil and gas budget revenues rise to $96.81 bln in 10 months — Finance Ministry

At the same time, non-oil and gas revenues of the Russian budget for January-October 2024 increased by 26.6% compared to the same period last year and reached 20.1 trillion rubles ($205.14 bln), the ministry said

MOSCOW, November 7. /TASS/. The Russian federal budget received 9.5 trillion rubles ($96.81 bln) in oil and gas revenues for January-October 2024, which is 32.3% more than in the same period last year, the Russian Finance Ministry said.

"Oil and gas revenues amounted to 9,539 bln rubles, exceeding the figures for the same period last year (+32.3% y/y), mainly due to the increase in the price of Russian oil. At the same time, oil and gas revenues were at a level surpassing their base volume, and in accordance with the parameters of the forecast of socio-economic development, a steady excess of oil and gas revenues over their base level is also expected in the coming months," the ministry said.

At the same time, non-oil and gas revenues of the Russian budget for January-October 2024 increased by 26.6% compared to the same period last year and reached 20.1 trillion rubles ($205.14 bln), the ministry said.

"Non-oil and gas revenues of the federal budget amounted to 20,129 bln rubles and increased by 26.6% compared to the same period last year. Revenues from sales taxes, including VAT, for January-October 2024 increased by 15.8% and exceeded the planned level, which creates a stable base for further accelerated revenue growth," the ministry said.

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