24 Jun 2022 18:28

Russian budget spending could fall by 100 bln rubles in 2022 due to gasoline damper adjustment

MOSCOW. June 24 (Interfax) - Russian budget spending could be reduced by 100 billion rubles in 2022 due to the gasoline damper's adjustment, Deputy Finance Minister Alexei Sazanov told reporters.

Asked how budget spending might alter due to the damper's adjustment, Sazanov said: "This depends on the [ruble-dollar] rate, an estimated 100 billion rubles."

He also said the gasoline damper adjustment would be temporary. "It will be in effect for just four months, from September to December 2022. At this stage the adjustment is being made for 2022 only, because it is unclear what sort of demand there will be for our petroleum products in 2023," he said.

Sazanov said the diesel damper would not have to be adjusted because "when diesel is exported there is not the sort of discount that there is for gasoline."