Russia Reports 5.2 Trillion Ruble Budget Deficit Through September

The Ministry of Finance of the Russian Federation reported a federal budget deficit of 5.2 trillion rubles ($61.1 billion) for the period from January to September 2026. This deficit represents 2.2% of the country's GDP.

Federal budget revenues for the first nine months totaled 29,639 billion rubles ($348.3 billion), marking a 10% increase compared to the same period in 2025. However, expenditures grew at a faster rate, rising 14.5% year-on-year to 34,825 billion rubles ($409.2 billion).

The ministry expects the total annual budget deficit to remain within 3.2% of the GDP. To maintain financial market stability and ensure credit availability for the extra-budgetary sector, the government is financing the structural deficit expansion without relying on additional borrowing from the federal loan bond market.