Russia's Budget Gap Widens to Record Despite Oil Revenue Boost
8 Articles
8 Articles
Even the rise in oil prices did not save the Russian economy.
The Russian budget deficit has risen to a record level, despite an increase in oil revenues due to escalating tensions in the Middle East. The deficit for the first four months of the year amounted to 5.9 trillion rubles (over 60 billion euros), well above the target for the entire year. Yesterday, the Russian central bank already announced that it expects a contraction of 0.5 percent instead of a growth of 1.6 percent.
Russia’s Oil and Gas Revenues Collapse by Nearly 40% in Early 2026
Russia's oil and gas revenues fell sharply in January-April 2026, according to data released by the Russian Finance Ministry. Compared with the same period last year, revenues from oil and gas exports dropped by more than one-third — down 38.3% to 2.298 trillion rubles. The ministry attributed the decline primarily to lower global oil prices. At the same time, non-oil-and-gas revenues increased by 10.2% to 9.423 trillion rubles. The Finance Mini…
In April, the Russian Federation ' s budget deficit increased by 1.3 trillion roubles, a deficit of 5.88 trillion roubles, or 2.5 per cent of GDP, accumulated since the beginning of the year.
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