Russia Federal Budget Gap Keeps Climbing

The Russian federal government ran a budget deficit of RUB 5.73 trillion in January-June 2026, or 2.5% of the GDP, larger than RUB 3.39 trillion in the same period a year ago, according to preliminary estimates. Federal expenditures jumped by 16.1% year-on-year to RUB 24.35 trillion, while revenues rose by 5.8% to RUB 18.62 trillion.

The Russian federal government posted a budget deficit of RUB 6.01 trillion in January-May 2026, or 2.6% of the GDP, up from RUB 3.03 trillion in the same period a year ago, according to preliminary estimates. This marked the largest budget gap since at least 1996, as federal expenditures soared by 17% year-on-year to RUB 20.79 trillion while revenues rose by only 0.3% to RUB 14.78 trillion.

The Russian federal government recorded a budget deficit of RUB 5.88 trillion in January-April 2026, or 2.5% of the GDP, up from RUB 3.23 trillion in the same period a year ago, according to preliminary estimates. This marked the largest budget gap since at least 1996. Federal revenues dropped by 4.5% year-on-year to RUB 11.721 trillion while expenditures jumped by 15.7% to RUB 17.598 trillion