Page 68 - Russia OUTLOOK 2023
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2025)? As Russia has done before, with cuts in spending.
What are the spending priorities of the Russian government? Who needs
housing, environment or sport when one can double down on state security
against its citizens.
Estimate of changes in revenues vs oil prices.
X axis: Oil output in mbpd.
Y axis: Urals in USD.
Blue box: Russia's planned revenue 2023.
Green box: Today's situation.
Red box: Possibly after EU oil embargo (assumption: no Urals price change).
--> Compared to the budget plan for 2023, revenue could shrink by 2.5 trillion.
68 Russia OUTLOOK 2022 www.intellinews.com
