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.
Start your day informed with AnewZ Morning Brief: here are the top news stories for 23 October, covering the latest developments you need to know....
European leaders aim to put on a show of support for Ukrainian President Volodymyr Zelenskyy in Brussels on Thursday after a rollercoaster few days th...
The Netherlands will vote on Wednesday, 29 October, after the collapse of the previous coalition, with far-right leader Geert Wilders’ Freedom Party...
Indonesia is aware of the repercussions of its decision to bar Israeli gymnasts from competing in a world championship event in Jakarta, Sports Minist...
More than 100,000 New Zealand teachers, nurses, doctors, firefighters and support staff went on strike Thursday, demanding higher pay and better fundi...
European leaders aim to put on a show of support for Ukrainian President Volodymyr Zelenskyy in Brussels on Thursday after a rollercoaster few days that saw Donald Trump announce and then back away from plans to meet Russia’s Vladimir Putin.
Russia captured two more frontline villages in southeast Ukraine and an island in southern Ukraine, its Defence Ministry said on Wednesday.
U.S. President Donald Trump on Wednesday imposed Ukraine-related sanctions on Russia for the first time in his second term, targeting major oil producers Lukoil and Rosneft as his frustration with Russian President Vladimir Putin over the conflict deepens.
Russian drones struck the Ukrainian capital for a second consecutive night, wounding four people, officials said early on Thursday.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Snapchat will start charging users who store more than 5GB of photos and videos in its Memories feature, prompting backlash from long-time users.
Türkiye has emerged as Europe’s largest steel producer and the world’s seventh largest in the first eight months of 2025, producing 36.9 million tonnes last year, according to sector officials.
Germany’s Adidas increased its full-year profit guidance, saying it managed to cushion some of the extra expenses resulting from higher U.S. tariffs.
Germany’s Adidas on Tuesday raised its full-year operating profit forecast, saying it had successfully offset part of the additional costs caused by higher U.S. tariffs.
New Zealand's annual inflation accelerated in the third quarter, reaching 3.0%, which aligns with analysts' expectations and is at the upper end of the central bank's target range, according to official data released on Monday.
On Sunday, the Netherlands' Economy Minister, Vincent Karremans, stated that he expects to meet with a Chinese government official in the coming days to discuss how to resolve the standoff over Nexperia NV, a computer chip maker whose issues are threatening global automotive supply chains.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment