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Federal Budget Deficit Little Changed in May

RUSSIA
  • Russia's federal budget deficit was RUB3.411trln for January-May 2023, according to preliminary data from the Finance Ministry cited by Interfax. The deficit hardly changed over the past month - the ministry estimated it at RUB3.424trln for January-April. The planned deficit for the year is RUB2.9trln.
  • Due to the risk of sanctions, Armenian, Kazakh and Hong Kong banks started blocking payments for servers, chips, processors, telecom equipment and other electronics from Russia, Kommersant report.
  • The federal statistidcs office will report weekly inflation data today at 1700BST/1900 local time. There are no other major economic releases ahead of the CBR key rate decision (Exp: Unchanged) and CPI data release on Friday.

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