In 2025, Russia's regions collectively faced a staggering budget deficit of approximately 1.48 trillion rubles ($19.22 billion), the highest ever recorded. This figure represents a significant increase, up 3.6 times from the previous year's deficit of 407 billion rubles ($5.28 billion). The data, reported by the Kommersant newspaper and sourced from the ACRA credit ratings agency, highlights a growing financial strain as regional spending continued to soar beyond revenue increases.

The number of Russian regions experiencing a deficit rose dramatically from 50 in 2024 to 74 in 2025, indicating a widespread issue across the country. With 89 regions included in fiscal reporting, this trend suggests a deepening fiscal crisis that affects many areas of governance and public service provision. Total regional expenditures reached 24.1 trillion rubles ($312.78 billion), representing a 9% increase, while revenue growth lagged at only 4%, totaling 22.6 trillion rubles ($293.34 billion).

Moscow, despite having a surplus for part of the year, recorded the largest absolute deficit at 229 billion rubles ($2.97 billion). This development raises concerns over fiscal sustainability and could impact regional investments and public services. As regions struggle to balance their budgets, the implications for economic growth and stability could be profound, potentially prompting calls for federal intervention or rework of the budgetary framework in the coming years.