The dependence of the Russian budget from oil and gas income in the first three quarters of the current year increased, more than a third of general revenues in the treasury – 34.5 percent, by 5.3 percentage points higher than a year ago. This is stated in the operational report of the Accounts Chamber on the implementation of the federal budget for January-September 2021, published on the Office website.
In absolute figures, the volume of income from the sale of oil and gas reached 6,185 trillion rubles, which is 2.3 trillion more than in January-September 2020. Mainly on growth affected the increase in tax fertilization tax (NDPI) and export duties for hydrocarbons. The latter has become a consequence of rising prices for hydrocarbons and the weakening of the ruble.
Also on the structure of budget revenues, an OPEC agreement influenced the restriction of oil production, adjusting the tax and customs legislation within the continuation of the tax maneuver and changes in the tax on additional income (NDD) from the extraction of raw materials. The auditors recalled that from January 1, 2021, a number of benefits on NPPI and export duties were canceled, who used their deposits switched to NDD.
At the same time, non-oil budget revenues increased with oil and gas. Their volume rose by 25.4 percent, to 11.738 trillion rubles. This was a consequence of an increase in value added tax (VAT), tax on the profit of organizations, disposal collection and income from the management of the FNB.
An increase in the revenue part also led a fine, which was paid by Norilsk to compensation for harm from the accident in the vicinity of Norilsk, and the listing of the Central Bank’s income from the sale of Sberbank.
In early October, the head of the Russian Accounts Chamber of Russia, Alexey Kudrin, stated that the country should in the perspective of 10-15 years to leave depending on oil and gas income. Otherwise, it will be not ready to reduce the consumption of hydrocarbons in the world.