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Energy Revenues Must Drop to Quarter of Budget
27.02.2013 08:22
Energy Revenues Must Drop to Quarter of Budget
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The share of oil and gas revenues should be lower than 25 percent, the Russian prime minister told the Brazilian TV station Globo. 

According to the cabinet head, today energy earnings account for just under 50 percent of the state budget revenues. 

He called the situation a ‘very high degree of dependency’ and said the government will work to further diversify the national economy through modernization. 

Earlier this year, there’ve been reports that Goldman Sachs has been appointed as the key think-tank in a drive to improve Russia’s investment appeal. The task force will also include representatives of Sberbank  and VTB.

Author: Mikhail Vesely

Tags: Russian economy Russian oil and gas producers Gazprom   

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