OREANDA-NEWS  In July, Russian budget revenues from oil and gas sales may decrease by 37 percent compared to the same period last year, to 680 billion rubles. Reuters writes about this with reference to its own calculations.

The Agency relied on data on oil supplies, its cost and the ruble exchange rate. Compared to June, revenues will increase by 37 percent, but this will be due to the payment of a quarterly tax on additional income from the extraction of hydrocarbons (NDT).

In seven months, Russian budget revenues could collapse by 20 percent, to 5.4 trillion rubles. The Ministry of Finance will publish official data for July on August 5.

In the first half of the year, the oil and gas revenues of the federal budget amounted to 4.74 trillion rubles, which is 16.9 percent less than a year earlier. Accordingly, the federal budget deficit has reached 3.7 trillion rubles, which is 1.7 percent of the planned GDP.

Separately, in June, for the first time since January 2023, they fell below 500 billion rubles amid a decline in oil prices. As a result, the financial department switched to selling currency from the National Welfare Fund (NWF) to compensate for the loss of income.

Experts of the MMI Telegram channel suggested that by the end of 2025, the federal budget deficit could amount to eight trillion rubles, which would be more than twice the level prescribed there after adjustments. Continuing spending at the current level will lead to this result.