Translation. Region: Russian Federal
Source: People’s Republic of China in Russian – People’s Republic of China in Russian –
Source: People’s Republic of China – State Council News
Moscow, June 10 (Xinhua) — The volume of revenues of the federal budget of Russia in January-May 2025 amounted to 14.732 trillion rubles, which is 3.1 percent higher than the volume of revenues in the same period last year, according to data from the Ministry of Finance of the Russian Federation, published on the agency’s website on Tuesday.
According to the Russian Ministry of Finance’s data, non-oil and gas revenues grew by 12.3 percent in five months compared to the same period last year, to 10.492 trillion rubles, which forms a “stable base for further accelerated growth in revenues.” “In general, the trajectory of non-oil and gas revenues in January-May of this year, along with the higher level of the tax base last year, create the preconditions for a significant excess of the dynamics laid down in the formation of the budget law,” the department said.
At the same time, oil and gas revenues of the Russian budget from January to May amounted to 4.24 trillion rubles, which is 14.4 percent lower than the figure for the same period in 2024. This is mainly due to a decrease in the average price of oil, as well as a one-time receipt of additional payment for mineral extraction tax /MET/ on oil in February last year. “At the same time, the receipt of oil and gas revenues in January-May of this year was at a level exceeding their base amount, but there are risks of their reduction due to a weakening price environment,” the Russian Ministry of Finance clarified.
The published data also shows that the volume of Russian budget expenditures for January-May 2025 increased by 20.7 percent compared to the same period in 2024 and amounted to 18.125 trillion rubles. The federal budget deficit, according to a preliminary estimate by the Russian Ministry of Finance, for the first five months amounted to 3.39 trillion rubles.
“The dynamics of revenue receipts and financing of expenditures in January-May 2025 indicate that the federal budget is being executed in accordance with the target parameters of the structural deficit approved in the budget law,” the department’s materials note. –0–