Page 97 - RusRPTJul22

6.1.2 Budget dynamics - specific issues...
How much does one need to cut Russia's oil output for the budget to feel the pain? With oil at $50 and oil output declining by 20%, Russia would lose 3.8% of GDP in revenues. If ruble deprecates to RUB150 it loses 2.2%. 2021 Russia's budget surplus was 0.8% of GDP.
6.2 Debt
Russia - External debt 2012 2013 2014 2015 2016 2017 Jan-Jun ‘18
Budget: external debt (USD bn)
2,363.52 2,844.56 2,729.43 2,169.01 2,073.22 2,096.24 1,005.41
Budget: external debt (% GDP)
29.02 31.73 29.07 37.89 39.83 32.84 /
source: CEIC, CBR
97 RUSSIA Country Report October 2020 www.intellinews.com