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.
U.S. President Donald Trump says Israeli Prime Minister Benjamin Netanyahu will visit Washington next week as tensions continue to rise across the Mid...
Brazil has denied visa requests for two Trump administration officials who planned to travel to the country to cast doubt on the integrity of its elec...
A journey into one of the darkest chapters of the Baltic states' history. ...
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 24th July, covering the latest developments you need to know.
The U.S. military said it completed a fresh wave of strikes on Iran late on Thursday, marking the 13th consecutive night of American attacks. The latest operation lasted more than two hours, according to U.S. Central Command.
Spain has declared a national emergency and evacuated more than 10,000 people after uncontrolled wildfires reached the outskirts of Madrid. Emergency crews have rescued residents as multiple blazes continue to spread across the region.
Russian authorities said 11 people, including four children, had been killed by Ukraine in an overnight attack on a holiday camp, accusing Kyiv on Saturday of deliberately targeting civilians.
Six candidates vying to become the next United Nations Secretary-General have called for restoring the organisation's credibility, strengthening multilateralism and reforming the UN, during the first public town hall debate ahead of a decisive Security Council vote next week.
Paramount Skydance agreed to pause its acquisition of Warner Bros Discovery until after a ruling on a challenge by states to the deal, plunging the $110 billion deal into further uncertainty.
China's Foreign Ministry has said it is closely monitoring the United Kingdom's nationalisation of British Steel. Prior to the British government fully taking over the loss-making company on Thursday, it was previously owned by Chinese private steelmaker Jingye.
Apple is closing in on Nvidia's position as the world's most valuable publicly traded company, as investors increasingly bet the iPhone maker can turn artificial intelligence into sustained earnings growth.
AI-powered shopping assistant Phia has been accused of using "cookie stuffing" to claim affiliate commissions for purchases it did not generate, according to a Bloomberg investigation. The company says the issue has now been resolved.
The UK government has nationalised British Steel, taking full ownership of the country's only primary steelmaker from its Chinese owners to safeguard the future of the UK's steel industry.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment