Russia approved the federal budget execution for the first nine months of 2025, with all obligations met despite a deficit.
The Government of Russia has approved the execution of the federal budget for the first nine months of 2025, according to a report presented by Finance Minister Anton Siluanov at a Government meeting.
All obligations for the period have been met. Preliminary estimates show federal budget expenditures reached RUB 30.4 trillion or 70.8% of the planned allocation, surpassing levels recorded in previous years.
The announcement was made on 27 November 2025.
Federal budget revenues amounted to RUB 27.0 trillion. The shortfall compared with forecasted values reflects fluctuations in energy prices, exchange rates, and a slowdown in economic activity. Oil and gas revenues for the period totaled RUB 6.6 trillion , while non-oil-and-gas revenues rose 13.3% to RUB 20.3 trillion compared with the same period last year.
As of 1 October 2025, the federal budget recorded a deficit of RUB 3.5 trillion, or 2.3% of GDP for the first nine months. Government bonds (OFZs) remained the main source of deficit financing.
Earlier, the State Duma Committee on Budget and Taxes in Russia began reviewing the draft federal budget for 2026–2028, the Ministry of Finance announced on 13 October 2025.
