Russia forecasts record budget deficit of over $68 billion - CPD
Kyiv • UNN
The Russian government expects a budget deficit of $68 billion by the end of 2025, almost double previous forecasts. This is due to a reduction in oil and gas revenues and high war expenditures.
The Russian government expects the budget deficit to reach 5.7 trillion rubles (approximately $68 billion) by the end of 2025. This is almost double previous forecasts. This is reported by UNN with reference to the Center for Countering Disinformation.
Details
The main reason is the reduction in oil and gas revenues, while spending on the war against Ukraine remains high. To cover the deficit, the Russian authorities are raising taxes, introducing new levies for businesses, and planning to increase public debt.
Despite economic problems and a record budget deficit, the Kremlin continues to sacrifice the stability of its own state and its development prospects for the sake of the aggressive war against Ukraine.
Analysts note that this leads to a gradual depletion of the economy and threatens a deep financial crisis within the country.
Recall
Recently, the Foreign Intelligence Service of Ukraine reported that the Russian government approved the draft federal budget for 2026–2028 with a record deficit of $54.6 billion. The Russian Ministry of Finance proposes to increase VAT to 22% and lower the threshold for the "simplified system" to cover the lack of resources.
In addition, in Russia, the tax service, in order to compensate for the financial losses of the budget due to the full-scale war against Ukraine, is massively sending notifications about the payment of income tax on bank deposits for 2024.