Russia's budget deficit explodes as latest sanctions bite

[Uncle Joe]

(snip)

Why it matters: Since Russia's invasion nearly a year ago, Western officials warned that it would take time for the full impact of sanctions to be felt in Moscow. That moment could be drawing closer.

Driving the news: Russia's Ministry of Finance reported that its budget deficit for January exploded to 1.8 trillion rubles — or around $25 billion — up roughly 14 times from last January's deficit of roughly $2 billion.

(snip)

What they're saying: Janis Kluge, an expert on Russian state finances with German Institute for International and Security Affairs, wrote on Twitter that the deficit is "highly unusual and points to a larger deficit for the full year."

The big picture: The report suggests that recent Western efforts to tighten the screws on Russia may be bearing fruit.

(snip)

https://www.axios.com/2023/02/08/russias-budget-deficit-explodes-as-latest-sanctions-bite

[bahboo]

1. good...bring the pain...

[pandr32]

2. Good news.

May the citizens become angry and start to revolt.

[republianmushroom]

3. like it

[maxsolomon]

4. Deficits won't bring Putin down anytime soon.

He runs an airtight Police State.