The budget of the Russian Federation will not receive a substantial amount of due to the fact that the Kremlin got involved in “conflict oil” from Saudi Arabia.
This was reported by the portal “Obozrevatel” with reference to data of the Ministry of Finance of the Russian Federation.
Russia’s budget deficit caused by the collapse in oil prices, the cost of which continues to decline steadily. Due to the fact that Russia was unable to influence the pricing of the raw materials from which strongly depends on the country’s economy, in March and April 2020, the Russian budget will lose the equivalent of at least $ 1 billion. In that case, if the price of oil would remain within the limits established by the state plan, these funds would have done in the budget.
In April 2020 the Russian Treasury will receive less of 55.8 billion rubles, which is about 729 million in dollar equivalent. It is already known that the losses of the budget in March amounted to 22 billion rubles (oklolo 287 million dollars — that is the amount received less the Treasury is due to jumps in oil prices.
Over the last week the oil price of Russian Urals fell to $ 10 per barrel that became a record indicator since 1999. Meanwhile, the Russian budget was formed on the basis that the cost of a barrel of oil would be less than 42.2 dollars per barrel. Thus, the national budget has been a deficit, which the government intends to fill thanks to reserves from reserve funds.
Forgone by the Treasury 77,8 billion rubles threatens the collapse of the ruble and the collapse of the Russian economy. In order to avoid this, the Finance Ministry is going every day from 7 April to 12 may inclusive sell U.S. dollars in the amount equivalent to a gap of 3.5 billion rubles per day.