FX.co ★ Russian Federal Budget Gap Balloons in January-October

The budget deficit of the Russian Federal Government reached RUB 4.2 trillion from January to October 2025, equating to 1.9% of the GDP, which is a significant increase from RUB 0.2 trillion recorded during the corresponding period in 2024, as reported by the Finance Ministry's preliminary data. Despite this rise, the deficit remains below the government's revised 2025 target of 2.6% of GDP. Overall government expenditure surged by 15.4% compared to the previous year, totaling RUB 34.1 trillion, while revenue growth was notably sluggish at just 0.8%, amounting to RUB 29.9 trillion.