Russian budget deficit exceeded plan by four times - SZR
Kyiv • UNN
The deficit of the Russian federal budget in January-July 2025 increased to $61 billion, which is four times higher than the planned $14.66 billion. This happened against the backdrop of falling oil and gas revenues and rising expenditures.
The deficit of the Russian federal budget for the seven months of 2025 reached $61 billion, which is four times more than planned, with a recorded 18.5% drop in oil and gas revenues. This was reported by the Foreign Intelligence Service of Ukraine on Saturday, writes UNN.
Russia's budget deficit for seven months exceeded the plan by four times. In January-July 2025, the deficit of the Russian federal budget increased to $61 billion (2.2% of GDP) against the planned $14.66 billion.
As noted, after the April budget amendments, the government expected $47.4 billion, "however, actual figures exceeded even this forecast."
"The 18.5% drop in oil and gas revenues - to $69 billion - was caused by the strengthening of the ruble and the decline in world oil prices. An additional factor was the failure to meet the revenue plan: the average annual ruble exchange rate ($85.9 per dollar) turned out to be significantly stronger than the $94.3 embedded in the budget," the SZR noted.
Expenditures for 7 months, according to intelligence, increased by 20.8%, to $314.9 billion.
Non-oil and gas revenues, as reported, increased by 14%, to $185 billion, "but this is not enough to compensate for export losses."
"By the end of the year, the deficit could reach $75 billion. The official GDP growth forecast was revised and lowered from 2.5% to 0.5-1%," the SZR reported.
Recall
The decline in oil and gas revenues is recorded against the backdrop of sanctions pressure and changing global market trends. Recently, Zelenskyy enacted the NSDC decision, which continued to synchronize Ukraine's sanctions with key partners, 100% synchronizing the US sanctions imposed in 2025 against Russia.