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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The U.S. State Department has authorised a potential Foreign Military Sale of Advanced Medium Range Air‑to‑Air Missiles (AMRAAM) to Denmark, aimed at bolstering the Scandinavian nation’s air defence capabilities, the Pentagon’s Defence Security Cooperation Agency said on Monday.
Canadian Prime Minister Mark Carney has announced the appointment of Mark Wiseman, a former global investment banker and head of Canada’s largest pension fund, as the country’s next ambassador to the United States.
Vince Zampella, co-creator of the Call of Duty franchise, has died after a Ferrari crash on Angeles Crest Highway north of Los Angeles.
Israeli Prime Minister Benjamin Netanyahu said Israel is monitoring recent Iranian military exercises and will raise the issue with U.S. President Donald Trump during his visit to Washington next week.
A major power outage swept across San Francisco on Saturday, leaving up to 130,000 customers without electricity, disrupting traffic and forcing some businesses to close temporarily, officials said.
Israel’s government has approved the creation of 19 new Jewish settlements in the occupied West Bank, a move that analysts say further undermines the prospects for a viable Palestinian state.
The European Union stands at a crossroads: to receive new members and accelerate the enlargement process in order to strengthen its role in the international arena, or to risk strategic stagnation by delaying expansion in favor of internal reform.
China has given the nod for car makers to sell Level 3 self-driving vehicles from as early as next year after it approved two electric sedans from Changan Auto and BAIC Motors.
Warner Bros Discovery’s board rejected Paramount Skydance’s $108.4 billion hostile bid on Wednesday (17 December), citing insufficient financing guarantees.
Ford Motor Company said on Monday it will take a $19.5 billion writedown and scrap several electric vehicle (EV) models, marking a major retreat from its battery-powered ambitions amid declining EV demand and changes under the Trump administration.
Iran has rolled out changes to how fuel is priced at the pump. The move is aimed at managing demand without triggering public anger.
U.S. stock markets closed lower at the end of the week, as investors continued to rotate out of technology shares, putting pressure on major indices.
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