The budget deficit in May increased by 0.1% of GDP, while revenues were positive for the first time since the beginning of the year.

      The Ministry of Finance of Russia has published preliminary results of the federal budget execution for January-May 2026. Revenues amounted to 14.8 trillion rubles, while expenditures reached 20.8 trillion rubles. The deficit reached 6 trillion rubles, or 2.6% of GDP. In April, the deficit was estimated at 5.9 trillion rubles (2.5% of GDP). Thus, in May, the figure increased by 0.1% of GDP. For the same period in 2025, the deficit was 3 trillion rubles (1.4% of GDP), reports the newspaper "Kommersant."

      As a result of five months, revenues exceeded the level of the comparable period last year for the first time this year — by 0.3%. Previously, a lag was recorded: for the first three months — minus 8.2%, for four months — minus 4.5%.

      Non-oil and gas revenues increased by 12.4% year-on-year, reaching 11.8 trillion rubles. Revenues from VAT (domestic and on imports) increased by 21.9%, to 6.7 trillion rubles.

      Oil and gas revenues for five months amounted to 2.98 trillion rubles — 29.8% less than a year ago. In January-April, the lag was 38.3%.

      Budget expenditures for January-May increased by 17% compared to the same period in 2025. For the first four months, the growth was 15.7%. The Ministry of Finance has not disclosed the structure of expenditures since May 2022 due to sanction risks. The increase in spending is explained by the prompt conclusion of contracts and advance payments. State procurement for five months amounted to 6.8 trillion rubles — 49.5% more than a year ago.

      The head of the Ministry of Finance, Anton Siluanov, stated at the SPIEF-2026 that the annual planned deficit of 1.6% of GDP "will increase somewhat" when parameters are clarified. Amendments to the budget law are not planned; adjustments will be made within the powers of the government.