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​Russian oil and gas revenues decreased by a third

USD/RUB exchange rate may fall to 64

Baku. 29 March. REPORT.AZ/ Oil and gas revenues of the Russian federal budget fell by almost 32% during two months in 2016 in comparison with the same period of last year. They amounted to 687.68 billion RUB, or 9 billion USD. Report informs citing Kommersant, the relevant information is provided in the operational report of the Accounting Chamber.

According to the report, in January-February 2015, the Treasury received 1.05 trillion RUB or 16 billion USD from oil and gas revenues. Revenues in US dollars calculated at the average exchange rate of USD / RUB during the reporting period. Thus, a decline in revenue in dollar terms is observed by approximately 44%. During the first two months of 2016 Russia's budget revenues amounted to 1.84 trillion RUB. 37.3% of them fell on the oil and gas revenues (in January-February last year - 45.9%). In January-February 2015, the average price of oil was about 54 USD / barrel in the corresponding period of 2016 - 33 USD / barrel.

Analytical Group of Report News Agency considers that reduction in oil and gas revenues will affect the exchanging rate of USD / RUB. If prices rise to 50 USD/ barrel, the fall of the dollar to 64 rubles is projected. Low probability of further strengthening of RUB against USD will limit the growth in the value of national currencies of neighboring countries, including Azerbaijani Manat.

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