ECONOMIC DEFICIT

Russia's 2025 budget deficit hit a significant 2. 6% of GDP, the largest gap since 2020. This means the country spent more than it earned, leading to a shortfall of 5. 6 trillion roubles. To put that into perspective, that's about $72. 12 billion. The main reason for this deficit? Oil and gas reven

California's Governor, Gavin Newsom, decided to skip the traditional budget reveal, leaving his finance chief to deliver the news. The state is facing a $3 billion deficit, but the real concern is that this number could balloon to $22 billion next year. The budget, nearly $349 billion, is a gamble,