In Russia, the budget deficit surged by 145 percent in the first two months of the year, reaching 2.7 trillion rubles. The Ministry of Finance of Russia stated in a written announcement that the budget deficit in the first two months of the year soared by 145 percent compared to the same period last year, totaling approximately 31.5 billion dollars. The ministry also highlighted that the country’s budget revenues increased by 6.3 percent to 5.3 trillion rubles during the same period last year. It was pointed out that the budget expenditures rose by 30.5 percent to 8 trillion rubles, resulting in a 145 percent increase in the budget deficit to 2.7 trillion rubles. The statement mentioned that non-oil and gas revenues amounted to 3.8 trillion rubles, while oil and gas revenues reached 1.5 trillion rubles. The announcement disclosed that the budget deficit was at 1.7 percent of the GDP and emphasized the plan to reduce this ratio to 0.5 percent by the end of 2025, as per budget regulations. The budget expenditures in Russia have significantly increased in recent years, especially due to expenses in the defense industry.