Oil-linked revenue of the Russian budget will drop by 0.5 percent by 2024 if current incentives remain in place, according to the presentation of the head of tax policy at the Russian Finance Ministry, Alexey Sazanov
MOSCOW (Pakistan Point News / Sputnik - 13th September, 2019) Oil-linked revenue of the Russian budget will drop by 0.5 percent by 2024 if current incentives remain in place, according to the presentation of the head of tax policy at the Russian Finance Ministry, Alexey Sazanov."The sharp increase in incentive-covered oil output will trigger the need to look for additional means to cover budget expenses to the amount of 0.5 percent of the GDP by 2024 and 1.1 percent of the GDP by 2030," the presentation, showed at a Moscow finance forum on Friday, said.
The Finance Ministry is expecting incentive-covered oil production to make up 90 percent of the total in Russia by 2033, Sazanov said.
