FX.co ★ Russia Federal Budget Gap Soars in January-November

In the period from January to November 2025, the Russian Federal Government recorded a budget deficit of RUB 4.3 trillion, equivalent to 2% of the country's GDP. This reflects an increase from the RUB 0.4 trillion deficit seen during the same timeframe in 2024, based on preliminary data released by the Finance Ministry. Despite this rise, the deficit still fell below the government’s revised target for 2025, which is set at 2.6% of GDP. The total government expenditure rose significantly by 13.9% year-on-year, reaching RUB 37.2 trillion, while revenues grew at a modest rate of 0.7%, totaling RUB 32.9 trillion.