Economics
Russia’s Budget Deficit Hits $34 Billion But Spending Growth Slows
Sanctions and other restrictions have hit Russia's earnings from energy exports.
Source: Bloomberg
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Russia’s budget deficit jumped in the first two months of the year but spending showed signs of growing at a slower pace amid the invasion of Ukraine.
The shortfall reached 2.58 trillion rubles ($34 billion), with expenditure at 5.74 trillion rubles, the Finance Ministry said Monday. While it didn’t break out the monthly totals, spending in February appeared to fall from January’s 3.12 trillion rubles.