The volume of federal budget revenues in January-November 2025 amounted to 32.9 trillion rubles. this is 0.7% more than in the same period of 2024. Budget expenditures reached 37.175 trillion rubles in 10 months. This is 12.5% higher than in January-November last year, according to the website of the Ministry of Finance.
The budget deficit reached 4.276 trillion rubles, which is 3.914 billion rubles higher than in the same period last year. In 2025, the federal budget deficit is expected to reach 2.6% of GDP, while the structural primary balance is expected to reach 1.3% of GDP. The Ministry of Finance attributes the exceeding of the target parameters of the structural primary balance for the current year to a slowdown in the growth of non-oil and gas revenues in the context of cooling inflation and domestic demand.
The oil and gas revenues of the federal budget amounted to 8.029 trillion rubles. This is 22.4% less than a year earlier. The indicator decreased mainly due to a decrease in the average oil price.
Non-oil and gas revenues reached 24.871 trillion rubles, an increase of 11.3%. Receipts of working capital taxes, including VAT, increased by 5.6% in 11 months.
