Nosedive of the Russian economy

In January-May 2020, revenues from oil and gas comings to the Federal budget of Russia due to coronavirus and the economic crisis decreased by $15 billion compared to the same period last year.

For 5 months of 2020, the federal budget of Russia received about $35 billion, and in 2019 for the same months the budget of the Russian Federation received $50 billion.

The main losses occurred in May 2020 – the Russian chamber missed 483.5 billion rubles (approximately $7 billion).

Loss of income has already amounted half of the military budget of the Russian Federation and exceeding direct costs to the Armed forces of the Russian Federation.

The decrease in incomes led to the curtailment of infrastructure projects, the reduction of subsidies and financial support to the regions, as well as the reduction of social programs. And this caused a drop in the popularity of power and the rating of V. Putin against the background of the approaching local elections, which will be held in September in more than 20 regions of the Russian Federation.

Given the fact that the whole world is waiting for the continuation of the economic crisis and the second outbreak of the COVID-19 epidemic, troubled times await Russia.

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