Falling oil prices will reduce Russian federal budget revenues

Russia’s federal budget incomes this year will go down by 170 billion rubles (6.5 bln U.S. dollars) due to falling crude oil prices and a reduction in the GDP, Finance Minister Alexei Kudrin told the Cabinet on Friday.

This year’s price of Russian crude oil will average 55 dollars per barrel, while the price assumption is 61 dollars per barrel according to the budget. Kudrin was quoted by the Itar-Tass news agency as saying that the GDP had been overestimated and that was a reason for certain alarm.
Xinhua