Russia’s oil and natural gas revenues declined by 52 percent

In the written statement made by the Russian Ministry of Finance, it was indicated that the budget deficit in the country was realized at 3.4 trillion rubles in the January-April period of this year.

Noting that in the said period, budget revenues decreased by 22 percent compared to the previous year and fell to 7.8 trillion rubles, it was noted that budget expenditures increased by 26 percent to 11.2 trillion of rubles.

In the statement, it was claimed that Russia’s oil and natural gas revenue decreased by 52 percent to 2.3 trillion rubles in the January-April period compared to the same period in 2022, pointing to the high base effect. as the main reason for this decline. .

While Russia’s budget ran a 3.3 trillion ruble deficit last year due to sanctions, the Russian Finance Ministry is selling yuan and gold from its reserves to close the budget deficit. (AA)