Russian Federation Government Budget Value

Russia posted a budget shortfall of RUB 220 billion in the first ten months of 2024, down from RUB 1.05 trillion in the same period last year, according to preliminary data. Revenues increased by 28.4% year-on-year to RUB 29.7 trillion, driven by a 32.3% surge in oil and gas revenues thanks to higher prices for Russian oil. Overall spending surged by 23.7% to RUB 29.9 trillion, largely driven by elevated defense costs linked to the war in Ukraine.