Russian #budget starts the year with a large #deficit of 1.8 trillion RUB (1.2% of GDP). Highly unusual and points to a larger deficit for the full year (depens on oil price, under current conditions 4-5% of GDP). Liquid assets in the National Welfare Fund amount to 4% of GDP. pic.twitter.com/jPNOJkLp90

— Janis Kluge (@jakluge) February 6, 2023