Oil and gas revenues of the Russian Federation increased by 2.8% of GDP in the first quarter

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AK&M 23 June 2022 11:31

The growth of oil and gas revenues of the Russian Federation in the first quarter of 2022 amounted to 2.8% of GDP and is associated with an increase in oil and gas prices, a surge in the US dollar, changes in the terms of the OPEC+ agreement, as well as a number of adjustments to tax and customs legislation, including as part of the continuation of the tax maneuver. This was stated by the Minister of Finance of the Russian Federation Anton Siluanov, presenting at a Government meeting a report on the execution of the federal budget for the first quarter of 2022, the press service of the ministry reports.

The execution of budget expenditures by the results of the first quarter of 2022 was at the level of 24.2% compared to the specified list.

"For the first quarter, the decisive issues are the readiness of the main managers and recipients for the beginning of the budget cycle, for example, the timeliness of the adoption of regulations and compliance with the deadlines for concluding agreements. All this affects the rhythm and quality of budget expenditure management throughout the year," the minister said.

In addition, in his report, A. Siluanov drew attention to the execution of the budgets of regions where there is a positive trend in terms of increasing their own incomes.