Russia’s budget deficit rises above expectations from January-July

Defense spending reflected heavily, as budget deficit accounts for 2.2% of GDP, far exceeding expected 0.5% rate planned for end of 2025, according to Finance Ministry

By Emre Gurkan Abay and Emir Yildirim

ISTANBUL (AA) - Russia’s budget deficit hit 4.88 trillion Russian rubles ($61.4 billion) in the first seven months of 2025, exceeding projected levels for the end of the year, according to the Finance Ministry.

The budget deficit accounts for 2.2% of gross domestic product (GDP). The deficit-to-GDP ratio was planned to be reduced to 0.5% by the end of the year.

Budget spending rose 20.8% to $318.1 billion during the same period, said the ministry.

Non-oil and gas revenues reached $186.7 billion, while oil and gas totaled $69.7 billion.

Russia’s budget was estimated to end the year with a deficit of $48 billion but budget spending rose significantly in recent years, with investments into the defense industry.

Kaynak:

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