Russia’s budget was $24.7 billion (1.76 trillion rubles) into deficit in January, compared to a surplus for January 2022, as state revenues from oil and gas plunged by 46.4% due to the low price of Urals and lower natural gas exports, the Russian Finance Ministry said in preliminary estimates. Total budget revenues slumped by 35% last month compared to the same month of 2022, while overall budget expenditures jumped by 58.
7% year-on-year in January, the ministry’s data showed. Russia’s non-oil and gas revenues also dropped,…Russia’s Budget Deficit Jumps Amid Plunging Oil Revenues
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