OREANDA-NEWS In November, Russian federal budget revenues fell to 2.85 trillion rubles due to unfavorable conditions in the commodity markets, primarily oil. This is reported by Interfax with reference to the published data of the Ministry of Finance.
In the first 11 months, the budget received 25.963 trillion rubles, which is 4.8 percent more than a year earlier. From January to October, the agency reported revenue of 23.107 trillion, which allowed us to conclude about the amount received last month. In October, revenue amounted to 3.37 trillion rubles, so the drop reached 15 percent.
Oil and gas revenues for 11 months amounted to 8,226 trillion rubles, of which a little over a trillion separately in November. However, in October they reached 1.6 trillion rubles, thus, a drop of more than one and a half times was recorded.
The volume of federal budget expenditures for 11 months amounted to 26.841 trillion rubles, which is 11.7 percent more than a year earlier. The deficit reached 878 billion rubles, or 0.5 percent of GDP.
According to the budget for 2023, the deficit should not exceed two percent of GDP. At the beginning of the year, it grew at an accelerated pace, but in the second half of the year, against the background of a sharp decline in the ruble exchange rate, the situation began to improve. As of December 8, the dollar is still trading above 90 rubles.
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