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Russia’s Budget Deficit Hits 5.87 Trillion Rubles Through April as Oil Income Slumps

Falling energy receipts with front‑loaded outlays put the 1.6%‑of‑GDP target at risk.

Overview

  • The Finance Ministry, which published the data Friday, said the gap reached 5.87 trillion rubles, equal to about 2.5% of GDP.
  • Oil and gas revenue fell 38.3% year over year to 2.298 trillion rubles, while non‑oil revenue rose 10.2% to 9.423 trillion.
  • Total income came to 11.7 trillion rubles, down 4.5% from a year earlier, as turnover taxes such as VAT grew but could not offset weaker energy takings.
  • Spending increased 15.7% to 17.6 trillion rubles, which officials linked to advance financing and faster contract execution early in the year.
  • The four‑month shortfall already tops the full‑year plan of 3.786 trillion rubles by about one‑and‑a‑half times, and some economists expect new tax moves as sanctions and drone strikes curb oil output.