Bloomberg explains why Russia’s budget remains in surplus

Bloomberg explains why Russia’s budget remains in surplus

The growth in tax revenues from the Russian state energy company Gazprom allowed the federal budget to maintain a surplus in October, Bloomberg reports.

According to the Ministry of Finance of the Russian Federation, the budget surplus for the first 10 months of 2022 reached 128.4 bn rubles, which is almost twice the surplus of 54.7 bn rubles recorded a month ago.

The tax revenues increased due to additional oil and gas revenues in the amount of 435.1 bn rubles.

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