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Russia’s Budget Surplus Shrinks as Revenues Slide

  • Tax collections from energy, other sectors wilt amid sanctions
  • Government had targeted 1.3 trillion ruble surplus this year

Russia’s budget surplus shrank sharply in August, as revenues wilted under the pressure of lower energy production and sanctions.

The surplus fell to 137 billion rubles ($2.3 billion) in the first eight months of the year, less than half the 481 billion reported in the year through July, according to preliminary data reported by the Finance Ministry Monday.