The Russian federal budget posted revenue growth of 50% year on year to RUB11.7 trillion ($128bn) in 4M24, achieving revenue growth rate of 41% y/y in April 2024 alone, according to the preliminary data from the Finance Ministry and calculations of RBC business portal. (chart) Spending was up by 21.5% y/y to RUB13.2 trillion in 4M24, up by 25% y/y in April alone, making a deficit of RUB1.48 trillion in 4M24. Despite halving y/y from RUB3 trillion seen in the same period of 2023, the deficit came close to the full-year target of RUB1.59 trillion as early as end of April. The deficit jumped from…