12.08.2026, 05:38
Russia's oil and gas revenues have dropped significantly
Source: OREANDA-NEWS
OREANDA-NEWS In the first seven months of 2026, total revenues to the Russian budget from energy sales decreased significantly. This is reported on the website of the Ministry of Finance of Russia.
During this time, according to the agency's preliminary estimate, oil and gas revenues sank by 16.8 percent compared to the same period in 2025. In January-July, the revenue amounted to approximately 4.6 trillion rubles. The Ministry of Finance attributed this trend to lower energy prices in previous periods.
A noticeable drop in oil and gas revenues had an impact on the dynamics of the federal budget deficit. In January-July, state treasury expenditures exceeded revenues by about 6.5 trillion rubles. According to the forecast of analysts at the Center for Macroeconomic Analysis and Short-term Forecasting (CMAKP), by the end of the year, the figure may reach 7 trillion.
The budget law for 2026 sets the deficit at 3.8 trillion rubles. At the same time, the Ministry of Finance has repeatedly stressed that the forecast may be revised taking into account the real dynamics. Judging by the norms adopted in June, Olga Belenkaya, head of the Macroeconomic analysis department at Finam, noted that the government is not going to cut costs. The changes allow him to borrow and spend funds without changing the legislation.
During this time, according to the agency's preliminary estimate, oil and gas revenues sank by 16.8 percent compared to the same period in 2025. In January-July, the revenue amounted to approximately 4.6 trillion rubles. The Ministry of Finance attributed this trend to lower energy prices in previous periods.
A noticeable drop in oil and gas revenues had an impact on the dynamics of the federal budget deficit. In January-July, state treasury expenditures exceeded revenues by about 6.5 trillion rubles. According to the forecast of analysts at the Center for Macroeconomic Analysis and Short-term Forecasting (CMAKP), by the end of the year, the figure may reach 7 trillion.
The budget law for 2026 sets the deficit at 3.8 trillion rubles. At the same time, the Ministry of Finance has repeatedly stressed that the forecast may be revised taking into account the real dynamics. Judging by the norms adopted in June, Olga Belenkaya, head of the Macroeconomic analysis department at Finam, noted that the government is not going to cut costs. The changes allow him to borrow and spend funds without changing the legislation.
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