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Russian Oil and Gas Budget Revenues in 2015: Estimation and Risk

Author

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  • Alexey Yu. Mikhaylov

    (Financial Research Institute, Moscow, Russia)

Abstract

The article analyzes the impact of changes at the markets of oil and gas in comparison to oil and gas revenues of the Russian federal budget in 2015. The most significant risk of fiscal policy in the terms of anti-Russian sanctions is the high sensitivity of revenues to the external volatility. About a third of all revenues of the budget system and about half of federal budget revenues comprise revenues from oil and gas sector. They are dependent on unpredictable fluctuations of the stock commodity quotations, which affect the rates of the oil and gas taxes (and duties). The article presents the model and the calculations, which predict the maximum reduction in oil and gas revenues in 2015 in the volume of 874 billion rubles.

Suggested Citation

  • Alexey Yu. Mikhaylov, 2015. "Russian Oil and Gas Budget Revenues in 2015: Estimation and Risk," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 52-59, April.
    • Handle: RePEc:fru:finjrn:150206:p:52-59
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    Cited by:

    1. Svetlana A. Tulaeva & Maria S. Tysiachniouk & Laura A. Henry & Leah S. Horowitz, 2019. "Globalizing Extraction and Indigenous Rights in the Russian Arctic: The Enduring Role of the State in Natural Resource Governance," Resources, MDPI, vol. 8(4), pages 1-20, November.
    2. Uyeh Daniel Dooyum & Alexey Mikhaylov & Igor Varyash, 2020. "Energy Security Concept in Russia and South Korea," International Journal of Energy Economics and Policy, Econjournals, vol. 10(4), pages 102-107.
    3. Gleb Aksenov & Ronglin Li & Qamar Abbas & Houlda Fambo & Sergey Popkov & Vadim Ponkratov & Mikhail Kosov & Izabella Elyakova & Marina Vasiljeva, 2023. "Development of Trade and Financial-Economical Relationships between China and Russia: A Study Based on the Trade Gravity Model," Sustainability, MDPI, vol. 15(7), pages 1-39, March.

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