In the written statement made by the Ministry of Finance of Russia, it was stated that the budget deficit in the country was realized as 3.4 trillion rubles in the January-April period of this year.
Pointing out that in the said period, budget revenues decreased by 22 percent compared to the previous year, to 7.8 trillion rubles, it was noted that budget expenditures increased by 26 percent to 11.2 trillion rubles.
In the statement, it was stated that Russia’s oil and natural gas revenues decreased by 52 percent to 2.3 trillion rubles in the January-April period compared to the same period of 2022, pointing out the high base effect as the main reason for the said decline.
While Russia’s budget had a deficit of 3.3 trillion rubles last year due to the sanctions, the Russian Ministry of Finance is selling yuan and gold from its reserves to close the budget deficit.