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.
The U.S. said it struck Iranian radar sites on Qeshm Island and in Goruk after intercepting four drones, while Iran's Revolutionary Guards said they l...
Armenian authorities arrested six candidates from the pro-Russian Strong Armenia bloc on Saturday, one day before voters were due to take part in parl...
Ukrainian Deputy Prime Minister Oleksiy Kuleba said Russian forces attacked two civilian search and rescue vessels operating in Ukrainian waters on Sa...
In a workshop surrounded by the wreckage of war, workers in Gaza are giving a second life to small leisure boats once used for family outings and swim...
Five Azerbaijani crew members were killed, and three others were injured after two cargo vessels were hit in a drone attack in the Sea of Azov, Azerba...
Armenian authorities arrested six candidates from the pro-Russian Strong Armenia bloc on Saturday, one day before voters were due to take part in parliamentary elections.
Ukrainian Deputy Prime Minister Oleksiy Kuleba said Russian forces attacked two civilian search and rescue vessels operating in Ukrainian waters on Saturday, leaving several people injured.
Five Azerbaijani crew members were killed, and three others were injured after two cargo vessels were hit in a drone attack in the Sea of Azov, Azerbaijan's Foreign Ministry said on Friday, as Russia blamed Ukraine for the strike.
An ageing, poorly insured shadow armada now accounts for around one-sixth of the world's tanker fleet. Hidden by design and fraught with risk, it operates beyond conventional oversight. A maritime law expert explains how it works, who profits, and why much of the world looks the other way.
Armenian authorities arrested six candidates from the pro-Russian Strong Armenia bloc on Saturday, one day before voters were due to take part in parliamentary elections.
More than 6,000 people gathered outside a vote-counting centre in Seoul on Friday night, demanding this week’s local elections be repeated after ballot shortages left some voters unable to cast their ballots.
Five Azerbaijani crew members were killed, and three others were injured after two cargo vessels were hit in a drone attack in the Sea of Azov, Azerbaijan's Foreign Ministry said on Friday, as Russia blamed Ukraine for the strike.
The new AnewZ documentary, TARGET: Yerevan, builds its explosive case on exclusive, secret recordings originally published by Minval Politika.
The U.S. said it struck Iranian radar sites on Qeshm Island and in Goruk after intercepting four drones, while Iran's Revolutionary Guards said they launches retaliatory strikes on four tankers in the Strait of Hormuz and targeted U.S. bases in the Gulf.
Chinese carmakers are rapidly reshaping the global automotive market, with record exports, soaring electric vehicle sales and growing investments overseas putting pressure on established European, Japanese and U.S. rivals.
The International Labour Organization (ILO) has begun its latest round of negotiations on creating the first binding global standards for platform-based work, covering services such as ride-hailing, food delivery and other app-based work.
European companies are continuing to deepen their presence in China, with nearly seven in ten firms maintaining or expanding their supply chains despite global efforts to diversify, according to a new survey by the EU Chamber of Commerce.
BP has removed its chair, Albert Manifold, with immediate effect, citing concerns over governance and conduct. The company said its board had unanimously decided that Manifold should no longer serve as chair or director.
The dual-class share structure outlined in SpaceX’s initial public offering (IPO) filing, which gives chief executive Elon Musk outsized control, has reignited one of Wall Street’s longest-running debates over corporate governance.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment