Shortfall. The Russian budget could see a 1 trillion-ruble ($12 billion) shortfall in tax revenue, according to calculations by Russia’s Izvestia newspaper. The 2025 budget projected 4.2 trillion rubles in revenue for the year, but by the end of August, just 2.3 trillion was collected, despite a hike in the corporate tax rate from 20 […]
Daily Memo: Russia’s Financial Strain, Clashes in Istanbul
Moscow's facing a big budget gap.
