Russia’s budget deficit last year increased more than expected as revenues from oil and gas fell by nearly a quarter, writes Bloomberg. The budget deficit reached 3.2 trillion rubles (36.1 billion dollars), equivalent to 1.9% of Russia’s GDP. The deficit grew as expenditures exceeded forecasts by 11%. According to the Russian Ministry of Finance, taxes on oil and gas, a key source of funding for the war against Ukraine, fell by 24% compared to the previous year. However, they still accounted for nearly a third of last year’s total budget revenue. Bloomberg notes that the flow of ‘oil dollars’ …