Russia's 2025 budget meets Putin's targets despite rising deficit

The Russian government has submitted its 2025 federal budget execution report to the State Duma. Prime Minister Mikhail Mishustin confirmed that the financial results meet the targets set by President Vladimir Putin for the year. Budget revenues for 2025 reached 37.283 trillion rubles, marking a 1.5% rise from the previous year. Oil and gas income alone made up over three-quarters of this total. Meanwhile, expenditures climbed to 42.91 trillion rubles.

The budget deficit settled at 5.626 trillion rubles, or 2.6% of GDP. Interbudgetary transfers also grew, totalling 3.9 trillion rubles—a 5.5% increase compared to 2024.

State programmes achieved an average fulfilment rate close to 100%. Significant advances were recorded in affordable housing, rural development, education, and social support. Over 540,000 families with children benefited from subsidised mortgage loans for home improvements.

Key priorities outlined in the report include tackling demographic issues, enhancing technological sovereignty, improving global competitiveness, and expanding national infrastructure. The report highlights steady progress in revenue growth and programme delivery. The deficit and spending levels reflect the government’s focus on economic stability and strategic development. The figures align with the administration’s stated goals for the year.