According to RBC with reference to the Ministry of Finance of the Russian Federation, the ministry explained the growth of the deficit by accelerated financing of expenditures at the beginning of the year.
Thus, budget revenues for four months amounted to 11.7 trillion rubles (about 120 billion euros), which is 4.5% less than a year earlier. The main decline was in oil and gas revenues – they fell by 38.3% to 2.3 trillion rubles (about 23.6 billion euros). The Finance Ministry attributed this to lower oil prices in previous periods.
Budget expenditures amounted to Br17.5 trillion (about €179.3 billion) in January-April, up 15.7% year-on-year. The Finance Ministry attributed the growth to the prompt conclusion of contracts and advance payment of certain expenses.
According to the agency’s assessment, the current dynamics corresponds to the parameters of the structural budget deficit. For 2026, revenues of Br40.283 trillion (about €412.6 billion) and expenditures of Br44.07 trillion (about €451.3 billion) are planned.
The Ministry of Finance does not disclose monthly data. According to RBC calculations based on the ministry’s data, the deficit could amount to about Br1.3 trillion (about €13.3 billion) in April alone.
