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| Economy |
| Russia's Jan budget deficit widens as energy revenues slump |
| 2023-02-07 |
| [Reuters] Slumping energy revenues and soaring expenditure pushed Russia's federal budget to a deficit of 1.76 trillion roubles ($24.78 billion) in January, as sanctions and the cost of Moscow's military campaign in Ukraine choke the economy's prospects. Citing preliminary data, Russia's finance ministry said on Monday oil and gas revenues were 46.4% lower at 426 billion roubles in January than in the same month last year, which it put down primarily to lower prices for Russia's Urals blend and lower volumes of natural gas exports. Non-oil and gas revenues were 28% lower at 981 billion roubles, attributed to lower domestic VAT and income tax takings. Overall, budget revenues for the month were down 35.1%, while spending was 58.7% higher in January 2023, at 3.12 trillion roubles, already more than 10% of the full-year spending plan. Deficit spending made up 56.4% of all Kremlin spending in January. Also: Russia sold gold from National Wealth Fund to cover budget deficit for the first time in January |
| Posted by:Thruter Gloluger6393 |
| #2 Sunday the EU banned the import of Russian refined oil products (gasoline, diesel, etc). That's another €70 million/day denied. |
| Posted by: Thruter Gloluger6393 2023-02-07 12:47 |
| #1 But Dale assured me that all was well and that Putin was a master strategist, top economist, and all-around good guy |
| Posted by: Frank G 2023-02-07 12:17 |