The Russian Finance Ministry revealed that Russia recorded a slight budget surplus in May of 13 billion rubles ($159.8 million). Its deficit narrowed slightly in the first five months of the year to 3.41 trillion rubles ($42 billion).
From January to May 2022, Russia recorded a surplus of 1.59 trillion rubles, but large expenditures to support its military campaign in Ukraine and a barrage of Western sanctions on its oil and gas exports have since hurt government coffers. High defense spending has kept Russia's industrial sector booming, boosting economic growth expectations this year and helping Moscow press ahead with its military campaign in Ukraine.
Source (Alkhaleej Emirate Newspaper, Edited)
