Russia budget deficit soars as energy revenues slump by almost half
Fall in oil and gas sales coupled with sharp rise in defence spending highlight economic damage of Ukraine conflict
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Russia budget deficit soars as energy revenues slump by almost half
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Ukraine latest: Russia's budget deficit widens as energy revenues slump
The war that began with Russia's invasion of Ukraine in February 2022 is approaching a grim one-year milestone, with mounting..
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Russia's oil and gas revenue crashed by nearly 50% at the start of 2023, leading to a wider budget deficit as Moscow's spending soars
Russia's deficit widened to nearly $25 billion as lower energy revenue met with a surge in spending amid Putin's war on Ukraine.
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