Russian Federation Government Budget Value

Russia recorded a budget deficit of RUB 389 billion in the first eleven months of 2024, down from RUB 748 billion in the same period last year but up from RUB 220 billion in January-October, according to preliminary data. Revenues rose by 25.8% year-on-year to RUB 32.65 trillion, driven by a 25.7% surge in energy revenues. Overall spending surged by 23.7% to RUB 33 trillion, mainly due to defense costs related to the war in Ukraine. The Russian government estimates full-year spending at RUB 39.4 trillion, 7.5% more than initially planned and 21.8% more than last year.