Russian budget deficit 2.4 trillion rubles in Q1, narrowed by 180 billion rubles in March

MOSCOW. April 7 (Interfax) - Russia had a federal budget deficit of 2.4 trillion rubles for the first quarter of 2023, according to preliminary Finance Ministry data.

The deficit narrowed by 180 billion rubles compared with preliminary data for the end of February.

The planned deficit for the year is around 2.9 trillion rubles.

The MinFin said budget revenue for Q1 2023 was 5.677 trillion rubles or 21% less than in Q1 2022 due to lower oil and gas revenue.

The ministry did not publish separate figures for March - only a cumulative total for the quarter. Revenue in January-February was an estimated 3.163 trillion rubles so on that basis revenue was 2.51 trillion rubles in March.