Perhaps on your planet, but here on Earth,
Russia's Jan budget deficit widens as energy revenues slump
- Russia budget deficit soars to around $25 bln in Jan
- Energy revenues down 46.5%, total revenues slump 35.1%
- Spending jumped almost 60% in Jan year-on-year
- Western sanctions squeeze Russia's financial clout
- This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine
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.
www.reuters.com
MOSCOW (AP) — Russia’s finance ministry said Monday that budget revenue in January was 35% lower compared with the same month in 2022, the last month before Russia sent troops into Ukraine.
The ministry also said the budget deficit for January was 1.77 trillion rubles ($23.9 billion), about 60% of the shortfall that had been planned for the entire year.
Oil and gas revenue, the backbone of Russia’s economy, was down 46% compared with January 2022.
Western countries have declared a $60-per-barrel price cap on Russian crude oil as well as ceilings on refined oil products like diesel fuel and gasoline.
Russia has said it won’t sell oil to countries observing the limit, but the cap and falling demand from a slowing global economy has meant customers in China, India and elsewhere can buy Russian oil at steep discounts, cutting into the Kremlin’s revenue.
Russia’s finance ministry says budget revenue in January was 35% lower compared with the same month in 2022.
apnews.com
MOSCOW, February 6. /TASS/. Russia’s federal budget deficit may amount to 1.76 trillion rubles ($24.61 bln), according to preliminary estimates of the Ministry of Finance.
"According to preliminary estimates, the volume of federal budget revenues in January 2023 amounted to 1.356 trillion rubles, which is 35% lower than the volume of revenues in January 2022," the ministry said on Monday.
The preliminary volume of expenditures of the Russian budget in January reached 3.117 trillion rubles ($43.58 bln), exceeding the figures for the same period last year by 59%.
The ministry also added that oil and gas revenues of the Russian budget, according to preliminary data, amounted to 426 bln rubles ($5.96 bln) in January 2023 and decreased by 46% compared to January 2022.
"According to preliminary estimates, the volume of federal budget revenues in January 2023 amounted to 1.356 trillion rubles, which is 35% lower than the volume of revenues in January 2022," the Ministry of Finance says
tass.com
MOSCOW. Feb 6. (Interfax) - Russia's federal budget showed a deficit of 1.776 trillion rubles in January according to preliminary data, which was 14 times the 125 billion ruble deficit in January last year and amounted to 60% of the total year plan for 2023 of 2.925 trillion rubles, the Finance Ministry said on its website.
Revenues in January were 1.356 trillion rubles, 35% less than revenues received a year earlier. Oil and gas revenues were 426 billion rubles, down 46% from January 2022. This is primarily due to a decrease in prices for Urals crude and a decrease in natural gas exports, the ministry said. Non-oil revenues were 931 billion rubles, down 28%, due primarily to a decrease in domestic VAT and income tax revenues.
Budget expenditures in January were 3.117 trillion rubles, 59% higher than in the same period last year. The acceleration of financing at the beginning of the year is mainly due to the prompt conclusion of contracts and advance financing for certain contracted expenses, the Finance Ministry said. This will also ensure a more even federal budget cash expenditure throughout 2023.
interfax.com
The numbers in all these articles are the same because they all come from the Russian Finance Ministry.
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