According to data the Russian Finance Ministry provided to Vedomosti newspaper, the federal budget posted a deficit of 5.7 trillion rubles in the January-June period of 2026. This figure corresponds to approximately 2.5 percent of the country's gross domestic product.
Budget revenues were recorded at 18.6 trillion rubles, while expenditures reached 24.3 trillion rubles. The ministry stated that the main reason for the high deficit seen at the beginning of the year was the front-loaded financing of expenditures.
Oil and gas revenues in decline
In the six-month period, non-oil and gas revenues rose by 16.3 percent compared to the same period last year, reaching 14.9 trillion rubles. In contrast, oil and gas revenues fell by 22.7 percent to 3.6 trillion rubles.
The Finance Ministry attributed this sharp decline in oil and gas revenues to the fall in global oil prices in previous periods. In recent years, Russia's budget expenditures have increased significantly, particularly due to investments in the defense industry.