Russia's Jan-Apr budget deficit hits 3.4 trln rubles

Maria Novoselova / Vestnik Kavkaza

Russia's federal budget recorded a 3.4 trillion rouble ($43.8 billion) deficit in the first four months of the year, the Russian finance ministry said.

Oil and gas revenues of the Russian budget plummeted by 46% year-on-year in January - February 2023 and totaled 2.2 trillion rubles ($28.9 bln), the ministry added.

"Oil and gas revenues stood at 2.2 trillion rubles and declined by 52%, which is associated in the first instance with the drop of Urals oil blend prices and the contraction of natural gas export volumes," the Ministry said.

Non-oil and gas revenues totaled 5.5 trillion rubles ($72.2 bln) and increased by 5% year-on-year in the reporting period, the ministry noted.

© Photo :Maria Novoselova / Vestnik Kavkaza