FX.co ★ Russian Federal Budget Deficit Rises in Jan-June

In the first half of 2025, the Russian Federal Government reported a budget deficit of RUB 3.7 trillion, equating to 1.7% of the nation's GDP. This marks an increase from the RUB 0.9 trillion deficit experienced in the same timeframe the previous year, based on preliminary figures from the finance ministry. The current deficit aligns with the government's annual target. In April, Russia adjusted its 2025 budget projection to 1.7% of GDP, up from an initial 0.5%, due to a 24% decrease in predicted energy revenues amid expectations for a sustained period of low oil prices. During this period, government expenditures saw a sharp increase of 20.2% to reach RUB 21.28 trillion, while revenues experienced a modest rise of 2.8%, totaling RUB 17.6 trillion.