美元兑卢布跌至23个月低点80.19。在过去的4周里，美元-俄罗斯卢布下跌了6.33%，在过去的12个月里，它下跌了12.55%。

USDRUB decreased to a 23-month low of 80.19. Over the past 4 weeks, US Dollar Russian Ruble lost 6.33%, and in the last 12 months, it decreased 12.55%.

根据财政部的初步数据，俄罗斯联邦政府在2025年前四个月公布了3.2万亿卢布的预算缺口，占国内生产总值的1.5%，而去年同期为1.5万亿卢布。目前的数字远高于去年同期占GDP 0.6%的赤字。该部在一份声明中表示：“这主要是由于今年1月支出融资加速，以及石油和天然气收入流入减少，但不会影响2025年整体结构平衡目标参数的执行。”。政府总支出同比增长20.8%，达到15.5万亿卢布，而收入增长5%，达到12.3万亿卢布。

The Russian Federal Government posted a budget gap of RUB 3.2 trillion in the first four months of 2025, or 1.5% of the GDP, from RUB 1.5 trillion in the same period last year, according to preliminary data from the finance ministry. The current figure is much higher than last year’s 0.6% of GDP deficit for the same period. "This is mainly due to the accelerated financing of expenses in January of this year, as well as the decrease in oil and gas revenue inflows, but it will not affect the execution of the target parameters of the structural balance for the year 2025 overall," the ministry said in a statement. Total government spending jumped 20.8% year-on-year to RUB 15.5 trillion, while revenues rose 5% to RUB 12.3 trillion.

标准普尔全球俄罗斯综合采购经理人指数从3月份的两年多低点49.1升至2025年4月的49.8。尽管有所上升，但该数据表明，在制造业产出下降和服务业商业状况基本不变的推动下，私营部门活动连续第二个月收缩。新订单略有下降，反映出这两个行业的需求历来疲软。受服务业重新招聘的支撑，就业人数小幅上升，但部分被制造业持续裁员所抵消。在成本方面，营业费用继续上升，尽管增长速度仍处于历史低位。与此同时，尽管服务销售价格的上涨速度略快，但随着制造业价格通胀的进一步缓解，产出费用的总体增长是2020年8月以来最慢的。

The S&P Global Russia Composite PMI increased to 49.8 in April 2025 from a more than two-year low of 49.1 in March. Despite the uptick, the reading signaled a second consecutive monthly contraction in private sector activity, driven by declining manufacturing output and largely unchanged business conditions in the services sector. New orders declined slightly, reflecting historically subdued demand across both sectors. Employment edged up modestly, supported by renewed hiring in services, which was partially offset by continued job cuts in manufacturing. On the cost side, operating expenses continued to rise, though the pace of increase remained historically subdued. Meanwhile, despite a slightly faster rise in services selling prices, the overall increase in output charges was the slowest since August 2020, as manufacturing price inflation eased further.

2025年4月，标普全球俄罗斯服务业采购经理人指数为50.1，与上月持平。然而，该指数继续反映出服务业自去年6月以来最疲软的扩张速度，当时该指数预示着收缩。在需求疲软的情况下，新业务增长几乎停滞，主要是由于购买力下降。就业在3月份短暂收缩后恢复增长，尽管创造就业的速度很小。与此同时，积压的工作连续第六个月增加。在价格方面，由于原材料和维修成本上涨以及工资上涨，投入成本通胀加速。然而，尽管企业努力将更高的成本转嫁给客户，但产出价格通胀几乎没有变化，仍然是一年来第二慢的。最后，受需求增强、新服务项目投资和扩大新客户覆盖范围的预期支撑，市场情绪改善至15个月高点。

The S&P Global Russia Services PMI stood at 50.1 in April 2025, unchanged from the prior month. Nevertheless, the reading continued to reflect the weakest pace of expansion in the services sector since last June, when the index signaled a contraction. New business growth nearly stalled amid subdued demand conditions, largely due to reduced purchasing power. Employment returned to growth following a brief contraction in March, although the pace of job creation was only marginal. Meanwhile, backlogs of work increased for the sixth straight month. On prices, input cost inflation accelerated, driven by higher raw material and repair costs, as well as rising wage bills. However, output price inflation was little changed and remained the second-slowest in a year, despite efforts by firms to pass on higher costs to customers. Finally, sentiment improved to a 15-month high, supported by expectations of stronger demand, investment in new service lines, and expanded outreach to new clients.