Russian state budget changes have been prepared based on the new MacRO -Drift, which provides a decrease in the predicted average annual oil price – up to $ 56 per barrel instead of $ 69.7 on the budget.
Russian state approved Duma Duma in the first reading of the federal budget reading government for 2025. They provide an increase of more than three times budget deficiency at last year’s level. It was reported that day before the Moscow Times.
This year the Russian government expects to reduce budget deficiency to 1.17 trillion rubles, or 0.5% of GDP. But cheap oil and a strong ruble created the “perfect storm”, which forced the Ministry of Finance to increase the estimation of budget deficiency at 3.8 trillion rubles, 1.7% of GDP, which may mean continuous cost from the National Welfare Fund.
The Ministry of Finance has prepared the Russian state budget changes based on the new MacRO -PROPHIET of the Ministry of Economic Development, which, in particular, provides a significant decrease in forecasting the average annual oil price – up to $ 56 per barrel from $ 69.7 to budget per barrel.
Since the beginning of the year, the actual price has not reached the level promised to the budget, and in April is less than the new assessment of the authorities. Along with a stronger ruble, this, according to the Ministry of Finance, will lead to a reduction in oil and gas revenues to almost a -quarter of the plan – by 2.6 trillion rubles.
Russian Federation’s State head of the Russian Federation Andrei Makarov, who has shown changes in law, has warned about new risks for Russian Federation oil revenues amidst the threats of second American penalties and suggested that the hole in the ark of wealth could be higher than the amendments.
“The shortage of the first four months of this year has accumulated the figure (annual) we are taking today, so it is more than that,” Makarov admits.
Recall that in January-April, Russian costs were higher than the income of 3.23 trillion rubles, or 1.5% of GDP, three times beyond the planned budget law deficiency and almost compared to new annual estimates.
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Source: korrespondent
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