Oil and gas revenues of the Russian budget in 2024 increased by 26.2%
According to the results of 2024, oil and gas revenues of the federal budget of the Russian Federation increased by 26.2%, which amounted to 11,131 billion rubles, while non-oil and gas revenues - by 26%, up to 25,576 billion rubles. This was reported in the press service of the Ministry of Finance of the Russian Federation on January 20.
"Oil and gas revenues amounted to 11,131 billion rubles, exceeding the same period of the previous year by 26.2% YoY. Oil and gas revenues steadily exceeded their base level during the year, and at the end of the year additional oil and gas revenues amounted to 1,300 billion rubles," the ministry said.
Non-oil and gas revenues of the federal budget amounted to Br25,576 billion, and grew by 26% YoY. It is noted that the volume of these revenues at the end of 2024 significantly exceeded the estimates that were laid down in the formation of the law on the budget of 2025-2027, as well as among the negotiable taxes. Due to this, a stable base for further advanced dynamics of the relevant revenues is formed.
In addition, the Ministry of Finance noted that the federal budget deficit in 2024 amounted to about 1.7% of GDP, or 3,485 billion rubles, and the non-oil and gas deficit - within 7.3% of GDP. At the same time, the agency said, the increase in expenditures was partly aimed at the advance transfer of certain expenditures, which are provided for 2025. They pointed out that this will ensure increased flexibility in managing the structure of marginal budget allocations in the current year.
Earlier, on January 16, the Ministry of Finance reported that as of January 1, Russia's federal budget expenditures amounted to 99.6% of the plan. It emphasized that the national projects "Demography," "Safe Quality Roads," "Science and Universities," as well as "International Cooperation and Exports" were implemented by 100%. They were followed by the national projects "Digital Economy of the Russian Federation" and "Small and Medium Entrepreneurship and Support for Individual Entrepreneurial Initiative" (99.7%).
