Russia’s budget deficit reached 4.2 trillion rubles (around $51.9 billion) in the first ten months of 2025, driven by rising government spending, according to data from the Finance Ministry released on Tuesday.
The deficit was $53.1 billion higher than in the same period last year. During the first ten months, budget revenues increased slightly by 0.8% year-on-year to $369.3 billion, while expenditures rose 15.4% to $421.2 billion.
The Finance Ministry noted that non-oil and natural gas revenues amounted to $276.7 billion, while oil and gas revenues contributed $92.6 billion.
The budget deficit-to-GDP ratio currently stands at 1.6%, with projections suggesting it could reach 2.6% by the end of 2025.
The rise in spending has been partly driven by defence-related expenditures since the start of the war in Ukraine in early 2022. Sanctions on Russia’s energy sector have also reduced the country’s access to European oil and gas markets, impacting overall revenues.
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Qarabağ claimed a late 3–2 victory over Eintracht Frankfurt in the UEFA Champions League on Wednesday night, scoring deep into stoppage time to secure a dramatic home win in Baku.
Mine-clearing machines produced in Azerbaijan by ImProtex are being used to support demining operations across the country, as efforts continue to address landmine contamination left by past conflicts.
Russia’s liquefied natural gas transit through Azerbaijan is emerging as a strategically significant development for Armenia at a time of rising domestic pressure on energy supplies, according to political analyst Fuad Karimli.
Türkiye and Uzbekistan have established a new institutional framework for security and foreign policy coordination. Held in Ankara on Tuesday (20 January), the first meeting in the “4+4” format assembled the Turkish and Uzbek ministers for foreign affairs, defense, the interior, and intelligence.
More than 100 vehicles were involved in a massive pileup on Interstate 96 in western Michigan on Monday (19 January), forcing the highway to shut in both directions amid severe winter weather.
U.S. President Donald Trump said he would impose a 200% tariff on French wines and champagnes after France declined to join his proposed Board of Peace on Gaza initiative.
Syria's Interior Ministry said on Tuesday that about 120 Islamic State detainees escaped from Shaddadi prison, after the Kurdish website Rudaw reported that a spokesperson for the Kurdish-led Syrian Democratic Forces, Farhad Shami, said around 1,500 Islamic State members had escaped.
Several locally-developed instant messaging applications were reportedly restored in Iran on Tuesday (20 January), partially easing communications restrictions imposed after recent unrest.
Syrian government troops tightened their grip across a swathe of northern and eastern territory on Monday after it was abruptly abandoned by Kurdish forces in a dramatic shift that has consolidated President Ahmed al-Sharaa's rule.
Argentina’s economic activity fell by 0.3% in November 2025 compared with the same month a year earlier, marking the country’s first monthly contraction of the year, the national statistics agency INDEC said on Wednesday.
Wall Street closed sharply lower on Tuesday as global markets fell after U.S. President Donald Trump’s new tariff threats against Europe unsettled investors and revived fears of renewed volatility.
Global markets are rattled after U.S. President Donald Trump threatened new tariffs on eight European countries over Greenland, sending the euro to a seven-week low and raising concerns about renewed transatlantic trade tensions.
Hong Kong and Shanghai will sign a memorandum of understanding next week to establish a cross-border gold trade clearing system, a move aimed at boosting Hong Kong’s role as an international gold trading hub, Financial Secretary Paul Chan said.
Elon Musk is seeking up to $134 billion from OpenAI and Microsoft, arguing that the companies profited unfairly from his early support of the artificial intelligence firm, according to a court filing made public on Friday.
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