Russian federal budget deficit 4.2 trillion rubles or 1.9% of forecast GDP in 10M

MOSCOW. Nov 11 (Interfax) - The Russian federal budget had a January-October 2025 deficit of 4.19 trillion rubles or 1.9% of GDP according to preliminary estimates, the Finance Ministry said.

The planned federal budget deficit for the year was originally 1.173 trillion rubles or 0.5% of GDP but spring amendments to the budget increased the planned deficit to 3.792 trillion rubles or 1.7% of GDP and autumn amendments to 5.737 trillion rubles or 2.6% of GDP.

There was a deficit of 3.787 trillion rubles or 1.7% of GDP for January-September, according to preliminary MinFin data. Thus, in October there was a deficit, which, based on a comparison of preliminary figures of the cumulative totals for 9M and 10M 2025, can be estimated at about 400 billion rubles.

Federal budget revenue grew 0.8% year-on-year to 29.924 trillion rubles in 10M 2025.

Non-oil revenue grew 11% in 10M 2025 to 22.425 trillion rubles. Sales tax revenue including VAT rose 5.8%, with VAT revenue up 6.2% to 11.504 trillion rubles.

Oil and gas revenue fell 21.4% year-on-year to 7.498 trillion rubles in 10M, principally due to a fall in the average oil price. Oil and gas revenue is higher than the base level, but is still at risk of decreasing due to weaker price environment, the Finance Ministry said. Base oil and gas revenue was 7.296 trillion rubles.

Budget expenditure grew 15.4% year-on-year to 34.113 trillion rubles in 10M. It fell 4.1% year-on-year in October.

The autumn amendments approved budget revenue at 36.562 trillion rubles and expenditure at 42.3 trillion rubles for the year.