Share of Russia’s budget oil and gas revenues slumped from 70 to 45 percent, - PM Medvedev

The share of the Russian federal budget revenues from oil and gas production fell from 70 to 45 percent.

Russian Prime Minister Dmitry Medvedev said at a meeting with the candidates to positions in the Highest, and Supreme Councils of the United Russia party, Censor.NET reports citing BBC-Russia.

"Our income from hydrocarbons has recently accounted for approximately 70 percent of state budget revenues, that is, we were actually sitting on this needle. Then it was about 55 percent and now it is 45. It means that we are able to succed without this. And we certainly were successful earlier, when oil was not our export commodity at all. We need to change ourselves and use the advantages of this situation and I call on everyone to do so," Medvedev said.

Read more: Russia's oligarchs lost $11 billion in just 10 days of oil price plummeting, - The Telegraph

At the same time, according to some experts, the share of oil and gas revenues in Russia was about 50 percent in the last couple years.