Shortfall. Russia reported a 1.76 trillion-ruble ($25 billion) budget deficit in January, driven by plummeting energy revenue and a steep rise in expenses. Revenue totaled roughly 1.4 trillion rubles, 35 percent lower than a year before, largely due to a 46 percent decrease in oil and gas earnings. Spending totaled 3.1 trillion rubles, a 59 […]
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Daily Memo: Russia’s Budget Deficit
The country's oil and gas revenue fell sharply last month.
