In Russia, the budget deficit rose by 145 percent in the first two months of the year to reach 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 increased by 145 percent compared to the same period last year, reaching 2.7 trillion rubles (approximately 31.5 billion dollars) due to increasing expenses. The announcement also highlighted that the country’s budget revenues in the first two months of the year increased by 6.3 percent to reach 5.3 trillion rubles compared to the same period last year. It was mentioned that during this period, budget expenditures increased by 30.5 percent to reach 8 trillion rubles, resulting in the budget deficit rising by 145 percent to 2.7 trillion rubles. The announcement indicated that non-oil and gas revenues were at 3.8 trillion rubles, while oil and gas revenues stood at 1.5 trillion rubles. The announcement also noted that the budget deficit as a percentage of GDP was at 1.7 percent, emphasizing that according to budget rules, it is planned to decrease to 0.5 percent by the end of 2025. Budget expenditures in Russia have significantly increased in recent years, especially due to spending directed towards the defense industry.