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Russia’s oil and gas revenues fell 36% over three quarters

Federal spending increased by a quarter over the same period. Most of the money was directed to health care.

Russia’s oil and gas revenues fell 36% over three quarters

Russian revenues from oil and gas exports fell by 36% in the first three quarters of this year. This is stated in the bulletin "Comments on the state and business" of the Higher School of Economics.

Revenues from the sale of these energy resources for the specified period in the federal budget amounted to six trillion rubles. Revenues amounted to 13.2 trillion, expenses - 15 trillion.

Thus, the deficit was 1.8 trillion.

The authors of the document noted that the increase in expenses was associated with the need to fight the pandemic. So, the financing of health care in the crisis almost doubled. Expenses for "the Social services" increased by a third, for assistance to the regions - by almost 50%.

The authors added that 40% of the annual federal expenses could come to the fourth quarter.

 

Photo: from open sources

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