Finance min. says Russian oil-gas revenues to fall in 2008-2010-1

Russia’s oil and gas revenues will fall from 3.2% of GDP in 2007 to 0.6%-0.7% of GDP in 2008-2010, the Russian finance minister said in a report Friday.

Addressing the lower house of Russia’s parliament, which Friday is considering the first reading of Russia’s first three-year draft federal budget for 2008-2010, Alexei Kudrin said: “The international reserves currently total some $400 billion, which exceeds the aggregate foreign debt of the entire economy.”

RIAN