Page 73 - RusRPTOct22

revenue by RUB2.9 trillion and RUB1.6 trillion, respectively, Mishustin also said.
Russia’s energy revenues shrink to 14-month low. Russian energy revenues fell to $11.1bn in August, the lowest they have been since June 2021, as Western sanctions and European clients' refusal to buy Russian oil have forced Russia to sell oil at cheaper rates in Asian markets, Bloomberg reports.
Revenues from the non-resource sectors of the economy are down 14% in nominal terms year-on-year in August and 30% in real terms.
The Russian government is administering an across-the-board cut of 10% in budgetary expenses. This is in reaction to a larger-than-expected decline of fiscal revenues over the summer; the deficit is close to RUB1.5 trillion.
War spending is likely to lift the breakeven oil price for the budget to $97/bbl in 2022 vs $60/bbl in 2021, says BCS GM.
Oil and gas revenues have been the main support for the Russian economy in
73 RUSSIA Country Report October 2022 www.intellinews.com