Russia ran a historic deficit of about $23 billion in January. Then Russian officials referred to the high budget expenditures (in the first month of this year they amounted to 41.9 billion dollars). In February, spending fell to $34.7 billion. And the monthly budget deficit fell to $10.5 billion.
This is stated in the material GLOBAL HAPPENINGS. In February, the situation really improved, however, in general, the budget crisis in the Russian Federation continues. At the end of February, an embargo was introduced against Russian oil products, so the main question remains: what will be the numbers in March. If Russia suffers additional losses, there is a possibility that the aggressor’s reserves could be drastically reduced this year.
The main figures of the Russian budget for January-February:
- expenses soared 1.5 times and reached 5.7 trillion rubles. ($75.3 billion);
- revenues decreased by 25% and amounted to 3.2 trillion rubles. ($42.2 billion);
- Oil and gas revenues were at the level of 947 billion rubles. ($12.5 billion), which is 46% less than last year;
- the deficit reached 2.58 trillion rubles. (34 billion dollars).
At this pace, already in March, Russia will completely exhaust all the planned shortage. Then you have to use the reserves (National Welfare Fund). In total, in February it decreased by $8 billion (about $147.24 billion).
The bad news is that Russia has enough reserves to continue its war. Positive scenario: the budget crisis will worsen as a result of the embargo on oil products, oil prices will continue to decline – and Russia will run out of liquid reserves as early as the second half of this year.
But the aggressor will still have the opportunity to devalue the ruble, launch a printing press and continue to pay his military. While other Russians will face skyrocketing inflation.
As GLOBAL HAPPENINGS wrote earlier, Russian oil and gas revenues fell by 45% in January (to $6 billion). At the same time, the state budget deficit rose to a record high.
Source: Obozrevatel
I am a journalist who writes about economics and business. I have worked in the news industry for over 5 years, most recently as an author at Global Happenings. My work has focused on covering the economy news, and I have written extensively on topics such as unemployment rates, housing prices, and the financial crisis. I am also an avid reader and have been known to write about books that interest me.
