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State Duma passes amendments to Russian federal budget for 2025

The federal budget deficit will amount to 5.736 trillion rubles, or $73 bln

MOSCOW, October 21. /TASS/. Russia’s State Duma (lower house of the parliament) has adopted in the second and third readings amendments to the law on federal budget for 2025-2027 regarding indicators approved for this year.

Budget revenues in 2025 are proposed to be approved at 36.562 trillion rubles, or $465 bln (16.8% of GDP, which is 1.94 trillion rubles lower than previously planned). Expenditures remain unchanged at 42.3 trillion rubles, or $537 bln (19.5% of GDP). The federal budget deficit will amount to 5.736 trillion rubles, or $73 bln (2.6% of GDP, 1.94 trillion rubles higher than previously planned).

The GDP forecast has been lowered to 217.29 trillion rubles, or $2.7 trillion (previously 221.86 trillion rubles), while the inflation forecast has been downgraded to 6.8% (7.6% under the current law).

The Russian budget’s oil and gas revenues in 2025 are expected at 8.7 trillion rubles, or $110 bln (336.48 billion rubles higher than planned), while non-oil and gas revenues are projected at 27.91 trillion rubles, or $354 bln (2.28 trillion rubles lower than planned).

The accompanying files state that the decline in non-oil and gas revenues is primarily due to the slower-than-expected receipt of taxes and some other payments this year. For example, this applies to VAT, corporate income tax, personal income tax, customs duties, excise taxes on imported goods, and the recycling fee.

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