By Eliza Popova
This is one of the highest rates of 2023. The publication writes that the Russian budget is still under the pressure of financial losses caused by the war against Ukraine. The sanctions and other restrictions imposed by the United States and their allies have hit the country's income from energy exports. The Kremlin's income from oil and natural gas also fell in August through subsidies to national oil refining enterprises.
According to economist Alexander Isakov, the budget balance of Russia has improved due to the restoration of domestic demand, the weakening of the ruble and the slowdown of the costs in August "more confident consumers and falling of rubles by 25% led to an increase in the revenues of value added and oil tax. " He told.
The publication writes that the weakening of the national currency helps the Russian Federation reduce the budget deficit by increasing the revenues that the Kremlin receives from oil exports in ruble. We will remind that the Russian media reported that the ruble punched the "bottom" contrary to the plans of the Central Bank of 10 times to increase sales of currency.
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