The cumulative deficit of all budgets in the Russian budgetary system reached a historic record level in 2025 — 8.291 trillion rubles (approximately 91.2 billion euros), according to data from the Ministry of Finance published in the “Electronic Budget” system.
Compared to the previous year, the “hole” in the consolidated budget — which includes the federal budget, regional budgets, and extrabudgetary funds (the Pension Fund and the Mandatory Medical Insurance Fund) — increased by 2.6 times, or by 5.696 trillion rubles (approximately 62.7 billion euros).
The revenues of budgets at all levels increased by 6.5% in 2025, twice as slow as expenditures, which grew by 13%.
Two-thirds of the total deficit was generated by the federal budget, which ended the year with a deficit of 5.625 trillion rubles (approximately 61.9 billion euros), five times larger than initially planned.
The deficit of regional budgets, in turn, reached a record for the last two decades — 1.5 trillion rubles (about 16.5 billion euros).
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