Mounting Pressure on Russia’s Government Budget (SWP)

Economic stagnation and demographic change in Russia are putting intense pressure on the government budget. Tax revenues have been declining since the late 2000s. Meanwhile, the oil dependency of Russia’s budget has in­creased significantly. This became patently clear when the oil price plum­meted in 2014. Energy revenues have since begun to recover, but the Finance Ministry’s reserves have shrunk considerably and are only slowly being replenished.

Janis Kluge

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