Russian oil and gas revenues to exceed budget by RUB 719 bln

By Staff reporter 19 May 2017

Russia will earn RUB 719 billion ($12.61 billion) more from oil and gas sales than was forecast in its budget for the year, Russian Finance Minister Anton Siluanov said while presenting corrections to the budget at a government session.

The budget’s estimated price for oil has been raised to $45.6 per barrel from $40/bbl. GDP growth was also revised and is expected to be 2% for the year.

"We expect to receive RUB 1.144 trillion more in revenue this year. We propose increasing spending by RUB 315...

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