Oil and gas income of the Russian budget exceeded the level of 2013
Edited by Rhod Mackenzie / 2014-05-05 11:36:35
The Russian budget is getting more and more dependent on oil and gas income. They shared 51.9% in total income of Q1 2014, by 3.5 basis points more than in Q1 2013 (48.4%), and by 3.8% more than the forecasted level of 48.1% for 2014, the Accounts Chamber reports about the execution of the federal budget in January – March 2014.
The chief of the Accounts Chamber, T. Golikova says that it remains high dependence on external economy situation. Oil and gas income has risen mostly because of the growth in the USD rate to Russian ruble.
In January – March, average price of Urals oil was $106.83 per barrel, by 3.8% less than in Q1 2013, and 5.8% more than average forecasted oil price for 2014.
