The Ministry of Economic raised the plan for the price of oil in 2022

The Russian Ministry of Economy has updated its previously published prognosis for 2022 for the average cost of a Urals oil barrel. It was raised from $15.50 to $77.70. Experts note that an increase in the price of 1 dollar generates additional income. According to the results of 12 months, it can reach 150 billion rubles. The change in the price plan for Urals oil allows us to recalculate the expected revenues from the oil industry. With an average price of 77 dollars 70 cents, they will increase by 2 trillion rubles. The total revenues amount to the state budget of Russia can reach 27 trillion rubles. The ministry also raised its inflation forecast for this year. If earlier the agency expected inflation to decline to 4% by the end of 2022, now it predicts a slowdown in consumer price growth to only 5.9%. A few days ago, an updated prognosis was published by the Central Bank of the RF. He now expects the average price of a barrel of oil to be $70, up to $5 from the previous forecast. The Bank of Russia believes that by the end of 2022 inflation in the country will be in the range of 5% to 6%.


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Arseny Kudrin

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