Skip to content
Tax & Spend

Russia Budget Surplus Grows Thanks to Windfall Tax on Gazprom

  • Budget surplus rose to 128.4 billion rubles in January-October
  • Gazprom paid extra 416 billion rubles to budget last month

Russia managed to keep its federal budget in surplus in October despite rising spending for the war in Ukraine as a windfall tax on state gas company Gazprom PJSC delivered billions of rubles to state coffers.

The budget surplus reached 128.4 billion rubles ($2.1 billion) in the first 10 months of the year, the Finance Ministry said in a statement Friday. That’s more than double the 54.7 billion rubles reported a month earlier.