Russia's budget deficit reached 3.69 trillion roubles ($46.89 billion), or 1.7% of gross domestic product (GDP), in the first half of the year, the same as expected for the full year, the finance ministry said.
The deficit for the first half of the year was higher than in the first five months of 2025, when it stood at 1.5% of GDP. In the first half of 2024 the deficit stood at 0.3% of GDP.
The ministry said that fiscal spending in the first half grew by 20.2% while revenues increased by only 2.8%. Russia's energy revenues fell by 17% compared to the same period last year.
Russia raised the 2025 budget deficit estimate to 1.7% of gross domestic product in April from 0.5% after reducing the energy revenue forecast by 24%, expecting a prolonged period of low oil prices.
State spending on national defence was hiked by a quarter in 2025 to 6.3% of GDP, the highest since the Cold War, as the country continued its war in Ukraine, now in its fourth year.
The government is planning to tap its fiscal reserves for 447 billion roubles, or about one-tenth of its liquid assets, to balance the budget in 2025. The Finance Ministry is planning another revision of the budget in autumn.
Ukraine has presented the U.S. with a revised 20-point framework to end its war with Russia, President Volodymyr Zelenskyy said on Thursday, adding th...
The United States issued new sanctions targeting Venezuela on Thursday, imposing curbs on three nephews of President Nicolas Maduro's wife, as well as...
Thailand’s caretaker Prime Minister Anutin Charnvirakul is scheduled to speak with U.S. President Donald Trump later in the day, as border clashes b...
The White House has confirmed that U.S. President Donald Trump intends to maintain both a “good working relationship” with China and a “very str...
Pakistan has indicated its openness to forming a regional bloc with Bangladesh without including India. The statement from Islamabad follows comments ...
Ukraine has presented the U.S. with a revised 20-point framework to end its war with Russia, President Volodymyr Zelenskyy said on Thursday, adding that the issue of ceding territory remains a major sticking point in negotiations.
European leaders say they will intensify work on a U.S.-led plan to end the Russia-Ukraine conflict after a joint call with President Donald Trump, marking what they see as a decisive moment for Kyiv’s political and security direction.
Kyiv has escalated its naval campaign against Moscow’s economic lifelines, claiming a successful strike on a vessel suspected of skirting international sanctions within the Black Sea.
Ukraine has agreed on key elements of a post-war reconstruction plan in talks with Jared Kushner and other top U.S. officials, President Volodymyr Zelenskyy said on Wednesday (10 December), during ongoing peace efforts to reach a settlement in the nearly four-year war.
In a dramatic Champions League clash at Baku’s Tofiq Bahramov Stadium, Qarabağ grabbed an early lead, but Ajax staged a thrilling comeback to win 4-2.
Iran is preparing to host a multilateral regional meeting next week in a bid to mediate between Afghanistan and Pakistan.
At least 19 people were killed and 16 injured as two buildings collapased in Morocco's Fes city according to the state news agency.
China’s Ministry of Foreign Affairs has urged Afghanistan and Pakistan to resolve their tensions through dialogue and engagement, as it pledged to work with the international community to help improve relations between the two countries.
Iran's President Massoud Pezeshkian has begun a two day visit to Kazakhstan, with officials from both sides describing the trip as an opportunity to advance cooperation in trade, transport, industry, mining and cultural exchanges.
The U.S. Federal Reserve’s Federal Open Market Committee (FOMC) cut its benchmark interest rate by 25 basis points to a range of 3.50% to 3.75% following its two-day policy meeting, according to an official statement issued on Wednesday, 10 December.
China has carried out a major test of a new “super wireless” rail convoy, a technology that could reshape the future of heavy-haul transport.
Paramount Skydance (PSKY.O) has launched a $108.4 billion hostile takeover bid for Warner Bros Discovery (WBD.O). The escalation follows a high-stakes battle that had appeared to end last week when Netflix secured a $72 billion deal for the studio giant’s assets.
U.S. industrial production rose by 0.1% in September, rebounding after a decline in August, while capacity utilisation remained unchanged, according to Federal Reserve data on Wednesday.
Google’s YouTube has announced a “disappointing update” for millions of Australian users and creators, confirming it will comply with the country’s world-first ban on social media access for under-16s by locking affected users out of their accounts within days.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment