Russian Federal Budget Gap Continues to Soar

2025-09-09 15:30 By Luisa Carvalho 1 min. read

The Russian Federal Government posted a budget deficit of RUB 4.2 trillion in the January-August period of 2025, or 1.9% of the GDP, up sharply from RUB 0.3 trillion during the same period in 2024, according to preliminary data from the Finance Ministry.

The figure exceeds the government’s revised target of 1.7% of GDP, which was tripled in May due to falling oil prices and new US tariffs.

Total government spending jumped 21.1% year-on-year to RUB 27.92 trillion, while revenues increased at a much slower 3% to RUB 23.73 trillion, driven by a 20.2% rise in oil and gas revenues and a 14.3% increase in non-oil and gas revenues.



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