Russia has recorded the highest budget deficit since the beginning of its full-scale war against Ukraine. This was reported by the Center for Countering Disinformation.
It is expected that by the end of 2025, the deficit will amount to 5.7 trillion rubles (approximately $68 billion), almost double what was previously planned. The reason for this is a decrease in revenues, particularly from oil and gas, while military spending remains unchanged. The government is increasing taxes, introducing new levies for businesses, and plans to raise state debt to compensate for budget losses.
'Despite economic difficulties and a huge budget deficit, the Kremlin continues to sacrifice the stability of its own state and its prospects to conduct an aggressive war against Ukraine. The economy cannot withstand the enormous costs of war, and the figures confirm this. Resources are being exhausted; however, the Kremlin continues to put all efforts into waging war, which leads to serious economic problems in Russia,' noted the Center.
The Russian government is recording a record budget deficit due to falling revenues and unchanged military expenditures. This could lead to serious economic problems for the country in the future.