Oil and gas revenues of the Russian Federation, which make up almost one-third of the federal treasury’s revenues, reached 793.7 billion rubles last month. compared to RUB 570.7 billion. in May 2023 and 1.23 trillion rubles. in April 2024.
Russia’s federal budget revenues from oil and gas in May 2024 increased by 39% compared to the same period last year, but decreased by 35.4% compared to April this year. Analytical publication enkorr reports this, citing data from the country’s Ministry of Finance.
It is reported that oil and gas revenues, which make up about one-third of the federal treasury’s revenues, reached 793.7 billion rubles last month. compared to RUB 570.7 billion. in May 2023 and 1.23 trillion rubles. in April 2024.
The drop in oil and gas revenues in May was due to a lack of quarterly additional income tax (VAT) collections, after they reached RUB 588 billion in March and April. and 453 billion rubles. respectively, for production in the fourth quarter of 2023 and the first quarter of this year. The next VAT payment for the second quarter will take place in July.
Mineral extraction tax (MET) revenues increased to 1.12 trillion rubles in May. from 1.08 trillion rubles. a month earlier, including the oil mineral extraction tax – up to 937 billion rubles. from 880.3 billion
Budget expenditures on subsidies to oil refiners under the excise tax on petroleum raw materials increased to 147.9 billion rubles in May. from 133.0 billion rubles. a month earlier. Payments for the fuel damper increased to RUB 201.7 billion. from 187.2 billion rubles. in April.
In the 2024 budget, the Ministry of Finance wants an increase in oil and gas revenues of 30% in 2023, to 11.5 trillion rubles, which is 32.8% of the total planned budget revenues in the amount of 35.07 trillion rubles.
By the end of 2023, oil and gas revenues fell by 23.9%, to 8.82 trillion rubles, from 11.59 trillion rubles. In 2022 due to lower oil prices and reduced gas exports under sanctions.
It was earlier reported that seaborne oil exports from the Russian Federation fell to a two-month low.
Source: korrespondent
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