All articles tagged with #energy revenue
Originally Published 15 days ago — by Fortune
Russia's financial system faces increasing strain with warnings of a potential banking or nonpayment crisis due to declining energy revenues, high inflation, and rising loan defaults amid ongoing geopolitical tensions and economic challenges.
Originally Published 2 years ago — by Reuters
Russia's federal budget balance recorded a deficit of $29bn in Q1 2023 due to heavy spending to support its military campaign in Ukraine and a 45% fall in energy revenues. The government has set a target of a 2% GDP deficit for 2023, but analysts predict it will be closer to 4-5%. The widening deficit may lead to an increase in corporate tax burden and inflationary risks, and the central bank may raise interest rates from the current 7.5%.