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Russia’s revenue falls sharply in January from year earlier

February 6, 2023

Via: ABC News

Russia’s finance ministry said Monday that budget revenue in January was 35% lower compared with the same month in 2022, the last month before Russia sent troops into Ukraine.

The ministry also said the budget deficit for January was 1.77 trillion rubles ($23.9 billion), about 60% of the shortfall that had been planned for the entire year.

Oil and gas revenue, the backbone of Russia’s economy, was down 46% compared with January 2022.

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