Russia's nine-month federal budget deficit reaches 5.186 trillion roubles
In short
Russia's federal budget recorded a preliminary deficit of 5.186 trillion roubles, or 2.2% of GDP, in January–September 2026, according to reports citing the Finance Ministry. Revenue rose 10% to 29.639 trillion roubles, while spending increased 14.5% to 34.825 trillion, Vedomosti reported.
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Russia's federal budget recorded a preliminary deficit of 5.186 trillion roubles, equivalent to 2.2% of GDP, in the first nine months of 2026, according to October 9 reports citing the Finance Ministry. Interfax and Vedomosti reported revenue of 29.639 trillion roubles, up 10% year on year. Vedomosti put spending at 34.825 trillion roubles, an increase of 14.5%. [ 2 , 4 ]
The original budget law planned a full-year deficit of 3.786 trillion roubles, or 1.6% of GDP, Interfax reported. In September, the ministry raised its annual estimate to 7.345 trillion roubles, or 3.2% of GDP. Interfax said the ministry attributed the departure from structural-balance targets to increased spending on key priorities alongside lower baseline oil and gas revenue. The agency put the January–September 2025 deficit at 3.471 trillion roubles, or 1.6% of GDP. [ 2 , 3 ]
Interfax reported that the ministry does not disclose monthly figures. Comparing the nine-month total with its preliminary January–August deficit of 5.795 trillion roubles, the agency calculated a September surplus of 609 billion roubles. It said the comparison with later Federal Treasury data for the first eight months gave a similar result. Interfax also reported an estimated surplus of around 600 billion roubles in August and 196 billion in June. [ 2 ]
Interfax and Vedomosti reported the ministry's statement that the expansion of the structural deficit is being financed mainly without additional borrowing in the federal bond market. They said the ministry intended this to ease pressure on credit availability and support financial-market stability. Kommersant's supplied wording differs, saying the expansion is not financed without additional federal bond borrowing. Vedomosti also reported that the spending ceiling could be raised by up to 3 trillion roubles using additional non-oil-and-gas revenue and other deficit-financing sources. [ 2 , 3 , 4 ]
Why it matters
The nine-month deficit exceeded the original full-year plan of 3.786 trillion roubles. The ministry raised its annual estimate in September to 7.345 trillion roubles, citing spending on key priorities and reduced baseline oil and gas revenue, Interfax reported.
Key facts
- The preliminary January–September deficit was 5.186 trillion roubles, or 2.2% of GDP. [ 2 , 3 , 4 ]
- Budget revenue rose 10% year on year to 29.639 trillion roubles. [ 2 , 4 ]
- Spending increased 14.5% to 34.825 trillion roubles, Vedomosti reported. [ 4 ]
- The annual deficit estimate rose from 3.786 trillion to 7.345 trillion roubles in September. [ 2 , 3 ]
Confirmed by several sources
Still unclear
- The supplied reports differ in their description of additional federal bond borrowing. Interfax and Vedomosti say the structural deficit expansion is financed mostly without additional OFZ borrowing; Kommersant's wording says it is not financed without such borrowing.