Russian news, notes and thoughts
May, 2025 / 
6 May, 2025 // The poor harvest (17.8M tons, 11.9% less than in 2023) led to a reduction in potato reserves in Russia. Wholesale prices have increased by more than 85% since the beginning of 2025, by 4.4 times compared to last spring. Retail prices have increased by 2.8 times year-on-year and amount to about 85 rubles per kg (1 USD).
1 May, 2025 // The Russian Finance Ministry has increased the expected 2025 budget deficit from 1.17 trillion (0.5% of GDP) to 3.79T rubles (1.7%). Expected oil and natural gas revenues have decreased from 10.93T to 8.3T, and the oil price forecast has been lowered from $69.7 to $56 per barrel. The inflation estimate has increased to 7.6%.
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