Russian budget deficit will increase to 2.6% from 1.7% of GDP in 2025 - Finance Ministry amendments

MOSCOW. Sept 24 (Interfax) - Russia's federal budget deficit will increase by 1.944 trillion rubles in 2025 and amount to 5.737 trillion rubles, or 2.6% of GDP according to figures contained in amendments to the current budget prepared by the Finance Ministry, a source familiar with the document told Interfax.

Initially, the budget law for the current year planned a deficit of 1.173 trillion rubles, or 0.5% of GDP. However, amendments were adopted in the spring, according to which the deficit was expected to be 3.792 trillion rubles, or 1.7% of GDP.

The increase in the size of the deficit corresponds to a reduction in the budget revenue estimate for the current year - of 1.944 trillion rubles, from 38.506 trillion rubles to 36.562 trillion rubles. Relative to GDP, the share of revenues will decrease by 0.6 percentage points due to an increase in the share of oil and gas revenues and a decrease in non-oil and gas revenues.

The total amount of budget expenditures in the current year remains at the level of 42.3 trillion rubles, or 19.5% of GDP.

The non-oil and gas deficit will increase by 2.281 trillion rubles and will amount to 14.39 trillion rubles (6.6% of GDP).