State Duma approves Russia's 2025 budget execution with 5.63 trillion rouble deficit

Russia's State Duma approved the law on execution of the 2025 federal budget on October 13. The report records a deficit of 5.63 trillion roubles, or 2.6% of GDP.

Revenue was 37.28 trillion roubles and spending was 42.91 trillion. The decision approves results for a completed financial year, rather than creating new spending commitments or adopting next year's budget.

Oil and gas revenue fell to 8.48 trillion roubles from 11.13 trillion a year earlier. Urals oil averaged $55.7 a barrel, against a forecast of $57.9. The average exchange rate was 83.4 roubles per dollar, compared with the projected 86.1.

Public debt reached 35.13 trillion roubles on January 1, 2026, rising by 6.09 trillion, or 21%, over the year. The budget committee's conclusions highlighted a gap between demand for government bonds and Finance Ministry offerings.

The committee called for balanced deficit management to prevent uncontrolled growth in debt servicing costs. It also noted that liquid assets' share of the National Wealth Fund had fallen to 30.5%.

Accounts Chamber findings cited in the report put budget execution violations at 580 billion roubles. Of that, 354.7 billion concerned the amounts and conditions of subsidies to legal entities. The violations figure does not establish an equivalent amount of proven theft.