The total deficit of the budgets of the subjects of the Russian Federation in 2025 increased by 3.6 times compared to the previous year, reaching 1.478 trillion rubles. This is evidenced by data from experts at the rating agency ACRA.
This is reported by Finway
Causes of the Record Deficit
The main reason for the increase in the deficit was that the growth rate of budget expenditures in the regions of Russia more than doubled the growth rate of revenues. According to estimates, regional budget revenues in 2025 amounted to 22.6 trillion rubles, while total expenditures reached 24.1 trillion rubles.
For comparison, in 2024, the deficit of regional budgets was 407 billion rubles. In 2025, this figure became a record in the entire history of observations.
Federal Budget Deficit and Government Measures
Against the backdrop of the record regional budget deficits, the federal budget deficit of Russia in 2025 reached 5.64 trillion rubles, which is about 2.6% of the country’s GDP. This is five times more than was planned in the initial budget (0.5% of GDP). For 2026, a reduction of this figure to 3.786 trillion rubles, or 1.6% of GDP, is planned.
“Many hours” Prime Minister of Russia Mikhail Mishustin discussed ways to address the budget deficit problem with the leader of the Russian Federation Vladimir Putin and the head of the Central Bank Elvira Nabiullina.