Subscribe to read | Financial Timeshttps://www.ft.com/content/d9cdc51f-5fe3-4f4a-b0e8-054ef21a2a6eRussia recorded a surplus of almost Rbs500bn in the first seven months of the year. But the cumulative total fell to only Rbs137bn last month, suggesting a big deficit in August which economists attributed to sharp declines in oil and gas revenues.
Oil and gas revenues, which make up almost half of the budget revenues received so far this year, were down 18 per cent year-on-year over the January-August period, according to the data.
Non-oil and gas revenues also fell drastically, by 37 per cent year on year, in January-August, the data showed.
But Russia’s state gas monopoly Gazprom said earlier this month that production fell by 15 per cent year on year in the first eight months of the year. Exports, which flow mostly to Europe, were down by more than a third.
------------
rUSko Se přEOrIeNTuJE na VÝchOd!!! :)