Russia: from oil surpluses to a war budget

From the 1998 default to oil surpluses, then back to deficits with the war: Russia’s public revenue and spending since 2000, its reliance on oil and gas, and a comparison with France.

CitoyenData as of Nov 12, 2026

Scope: Russian general government (federal government, regions, local government, social funds), IMF government finance statistics, calendar years, 2000 to 2021; balance, revenue, spending and debt to 2025 from the IMF World Economic Outlook (October 2026). Russian official data: the best available, with questionable reliability since 2022.

This dossier is updated at least once a quarter with the new figures. Follow it to get a notification at each update.

Key points

Public spending · 2021₽47,706bn35.1% of GDP

Public revenue · 2021₽50,906bn37.5% of GDP

Surplus · 2021₽3,200bn2.4% of GDP

Gross public debt · end of 202116.5%of GDP

In 2021, the last year before the war, Russian general government spent ₽47,706bn (35.1% of GDP) against ₽50,906bn of revenue (37.5%): a surplus of 2.4% of GDP, with gross debt of 16.5% of GDP.
Since the war, deficits are back: according to the IMF, public spending rose from 34.9% of GDP in 2021 to 39.1% in 2025 (+4.2 points), while revenue stayed around 35%. The balance went from a surplus of 0.8% to a deficit of 3.9% of GDP in 2025. Debt remains low: 16.6% of GDP.
A budget resting on oil and gas: in 2008, export duties weighed 6.4% of GDP and the extraction tax 4.3%. The sector’s tax reform shifted the burden from one to the other: in 2021, 1.9% for export duties and 6.2% for extraction. VAT took over too: from 4.8% of GDP in 2008 to 6.9% in 2021 (rate raised from 18% to 20% in 2019).
From default to surpluses: after the 1998 default (deficit of 7.4% of GDP, debt of 135%), rising oil prices brought surpluses of up to 9.5% of GDP in 2005 and cut debt to 7.4% in 2008. The 2009 crisis (−5.3%) and the 2014-2015 oil slump then reopened deficits.
Ageing: people aged 65 and over went from 12.3% of the population in 2000 to 17.8% in 2025. Social benefits rose from 9.1% of GDP in 2008 to 13.4% in 2020. Compared with France, Russia spent 23.2 points of GDP less in 2021 (35.1% against 58.3%), and paid 15.5 points less in social benefits in 2020.
Why the detail stops in 2021: the detailed accounts Russia reported to the IMF for 2022 and 2023 show surpluses (+2.5% and +5.3% of GDP), contradicted by the IMF’s own estimates (−1.3% and −2.2%). They are not used. Military spending is not separated in these accounts after 2020.

Revenue and spending, year by year

For each year: left bar = revenue (grey), right bar = spending (colours), stacked by type. The gap between the two bars is the surplus or deficit. Tap a legend item to isolate it. Amounts in billions of roubles. Spending is shown by nature; 2021 is not split. The war years are in the IMF charts below.

Unit

Since

Spending

Revenue

See the card:Public spending →

What worsened (or improved) the balance

Change of each item in points of GDP between two years, spending by nature (to 2020). Spending that rises, or revenue that falls, worsens the balance (bar to the left); revenue that rises improves it.

Compare

Public balance: 0.7% of GDP in 2013, −2.8% in 2020, a change of −3.5 points. Contribution of spending: −2.6 pt; of revenue: −0.8 pt.

Social benefits (pensions, allowances, reimbursed care)
Public employee compensation
Operating purchases
Interest on debt
Subsidies
Investment
Other transfers
Revenue

← widens the deficitnarrows it →

Detail by item · 2013 → 2020

Detail by item	Side	2013	2020	Change (pt)	Effect on balance (pt)
Other taxes on goods and services (excises, oil and gas export duties, customs…)	Revenue	8.42	4.13	−4.29	−4.29
Public employee compensation	Spending	9.49	10.28	+0.79	−0.79
Investment	Spending	4.39	5.09	+0.69	−0.69
Other revenue (oil and gas extraction tax, dividends, fund income…)	Revenue	12.09	11.47	−0.62	−0.62
Social benefits (pensions, allowances, reimbursed care)	Spending	12.80	13.35	+0.55	−0.55
Payroll, property and other taxes	Revenue	1.46	0.99	−0.47	−0.47
Other transfers	Spending	1.25	1.60	+0.35	−0.35
Interest on debt	Spending	0.64	0.93	+0.29	−0.29
Operating purchases	Spending	5.89	6.06	+0.17	−0.17
Subsidies	Spending	4.21	4.01	−0.21	+0.21
Household income taxes	Revenue	3.43	3.69	+0.25	+0.25
Corporate income tax	Revenue	2.78	3.72	+0.95	+0.95
Social contributions	Revenue	6.31	7.71	+1.41	+1.41
VAT (NDS)	Revenue	4.91	6.86	+1.95	+1.95
Total revenue	Revenue	39.39	38.57	−0.83	−0.83
Total spending	Spending	38.69	41.32	+2.63	−2.63
Balance	Balance	0.71	-2.76	−3.46	−3.46

The drivers

The war years according to the IMF

General government revenue and spending, % of GDP, IMF World Economic Outlook (actual years). Another source than the detailed accounts above: levels differ slightly.

Spending · 39.1% (2025)
Revenue · 35.3% (2025)

Public balance since 1998

% of GDP. Negative = deficit. Outside 2000-2021: IMF World Economic Outlook.

Balance · −3.9% (2025)

See the card:Budget balance →

Oil and gas in revenue

Extraction tax (rents) and export duties, % of GDP.

Extraction tax · 6.2% (2021)
Export duties · 1.9% (2021)

Gross public debt

% of GDP, IMF (World Economic Outlook), actual years.

Gross debt · 16.6% (2025)

See the card:Public debt →

The demographic driver

Share of people aged 65 and over (%), World Bank.

65 and over · 15.7% (2021)

See the card:Share of people aged 65 and over →

Who runs the balance?

Balance by level of government, % of GDP.

Federal government · 1.3% (2021)
Regions · 1.2% (2021)
Social funds · −0.1% (2021)

Russia and France

Same IMF government finance statistics for both countries, same scope (general government), % of GDP, up to 2021. Spending is compared by nature (to 2020). To the right of a gap chart, Russia is above France.

Public spending, % of GDP

Russia · 35.1% (2021)
France · 58.3% (2021)

See the card:Public spending →

Public revenue, % of GDP

Russia · 37.5% (2021)
France · 51.8% (2021)

Public balance, % of GDP

Russia · 2.4% (2021)
France · −6.6% (2021)

See the card:Budget balance →

Gross public debt, % of GDP

Russia · 16.5% (2021)
France · 125.8% (2021)

See the card:Public debt →

Revenue structure

One bar per country, stacked by type of revenue, % of GDP.

Year

Social contributions
Household income taxes
VAT
Other taxes on goods and services
Corporate income tax
Payroll, property and other taxes
Other revenue

Where Russia raises more (or less) than France

Russia minus France, points of GDP, same year. To the right, Russia is above.

Russia − France · 2021

← lowerhigher →

Spending by nature

What public money pays for: wages, social benefits, purchases, interest… Russia pays far fewer social benefits and almost no interest.

Year

Social benefits (pensions, allowances, reimbursed care)
Public employee compensation
Operating purchases
Interest on debt
Subsidies
Investment
Other transfers

Russia − France by type of spending, points of GDP

Russia − France · 2020

Yearly data

Show the table of revenue, spending, balance and debt by year

Year	Revenue	Spending	Balance	Balance (% of GDP)	Debt (% of GDP)
2021	₽50,906bn	₽47,706bn	₽3,200bn	2.4%	16.5%
2020	₽41,522bn	₽44,488bn	−₽2,966bn	−2.8%	19.2%
2019	₽44,665bn	₽41,424bn	₽3,241bn	3.0%	13.7%
2018	₽39,982bn	₽35,645bn	₽4,337bn	4.2%	13.6%
2017	₽32,891bn	₽33,646bn	−₽755bn	−0.8%	14.3%
2016	₽31,176bn	₽32,380bn	−₽1,205bn	−1.4%	14.8%
2015	₽31,110bn	₽32,877bn	−₽1,767bn	−2.1%	15.3%
2014	₽31,046bn	₽31,725bn	−₽679bn	−0.9%	15.1%
2013	₽28,752bn	₽28,237bn	₽515bn	0.7%	12.3%
2012	₽27,797bn	₽26,001bn	₽1,796bn	2.6%	11.2%
2011	₽25,390bn	₽23,520bn	₽1,870bn	3.1%	10.3%
2010	₽18,865bn	₽19,537bn	−₽672bn	−1.4%	10.1%
2009	₽16,340bn	₽18,540bn	−₽2,200bn	−5.3%	9.9%
2008	₽20,097bn	₽17,855bn	₽2,242bn	5.1%	7.4%
2007	₽15,798bn	₽13,430bn	₽2,369bn	6.6%	8.0%
2006	₽10,861bn	₽8,530bn	₽2,331bn	8.1%	9.8%
2005	₽9,072bn	₽6,864bn	₽2,208bn	9.5%	14.9%
2004	₽6,773bn	₽5,787bn	₽986bn	5.4%	20.8%
2003	₽5,314bn	₽5,064bn	₽250bn	1.8%	28.3%
2002	₽5,385bn	₽4,638bn	₽747bn	6.4%	37.6%
2001	₽3,588bn	₽3,343bn	₽245bn	2.6%	44.4%
2000	₽2,768bn	₽2,514bn	₽254bn	3.2%	55.9%

Sources and method

IMF, Government Finance Statistics (GFS). Revenue by type, spending by nature (to 2020), balance by level of government, extraction tax and export duties: Russian general government, 2000–2021. France in the comparison is read from the same tables. 2022 and 2023, contradicted by IMF estimates, are left out.IMF GFS (DBnomics)
IMF, World Economic Outlook (October 2026). Revenue, spending and balance from 2022 to 2025, balance before 2000, gross debt, GDP deflator. Only actual years are kept: IMF estimates and projections are left out.IMF World Economic Outlook, October 2026
World Bank. Share of people aged 65 and over.World Bank SP.POP.65UP.TO.ZS
Method and reliability. Spending = expense + net investment in non-financial assets; balance = net lending or borrowing. Constant roubles: current roubles adjusted with the GDP deflator. Russian official statistics are the best available, but their reliability is questionable, especially since 2022: restricted publications, classified military spending.
Further reading. Ministry of Finance, Bank of Russia.Минфин России Банк России

Russia: from oil surpluses to a war budget

From the 1998 default to oil surpluses, then back to deficits with the war: Russia’s public revenue and spending since 2000, its reliance on oil and gas, and a comparison with France.

CitoyenData as of Nov 12, 2026

This dossier is updated at least once a quarter with the new figures. Follow it to get a notification at each update.

Key points

Public spending · 2021₽47,706bn35.1% of GDP

Public revenue · 2021₽50,906bn37.5% of GDP

Surplus · 2021₽3,200bn2.4% of GDP

Gross public debt · end of 202116.5%of GDP

In 2021, the last year before the war, Russian general government spent ₽47,706bn (35.1% of GDP) against ₽50,906bn of revenue (37.5%): a surplus of 2.4% of GDP, with gross debt of 16.5% of GDP.
Since the war, deficits are back: according to the IMF, public spending rose from 34.9% of GDP in 2021 to 39.1% in 2025 (+4.2 points), while revenue stayed around 35%. The balance went from a surplus of 0.8% to a deficit of 3.9% of GDP in 2025. Debt remains low: 16.6% of GDP.
A budget resting on oil and gas: in 2008, export duties weighed 6.4% of GDP and the extraction tax 4.3%. The sector’s tax reform shifted the burden from one to the other: in 2021, 1.9% for export duties and 6.2% for extraction. VAT took over too: from 4.8% of GDP in 2008 to 6.9% in 2021 (rate raised from 18% to 20% in 2019).
From default to surpluses: after the 1998 default (deficit of 7.4% of GDP, debt of 135%), rising oil prices brought surpluses of up to 9.5% of GDP in 2005 and cut debt to 7.4% in 2008. The 2009 crisis (−5.3%) and the 2014-2015 oil slump then reopened deficits.
Ageing: people aged 65 and over went from 12.3% of the population in 2000 to 17.8% in 2025. Social benefits rose from 9.1% of GDP in 2008 to 13.4% in 2020. Compared with France, Russia spent 23.2 points of GDP less in 2021 (35.1% against 58.3%), and paid 15.5 points less in social benefits in 2020.
Why the detail stops in 2021: the detailed accounts Russia reported to the IMF for 2022 and 2023 show surpluses (+2.5% and +5.3% of GDP), contradicted by the IMF’s own estimates (−1.3% and −2.2%). They are not used. Military spending is not separated in these accounts after 2020.

Revenue and spending, year by year

Unit

Since

Spending

Revenue

See the card:Public spending →

What worsened (or improved) the balance

Compare

Public balance: 0.7% of GDP in 2013, −2.8% in 2020, a change of −3.5 points. Contribution of spending: −2.6 pt; of revenue: −0.8 pt.

Social benefits (pensions, allowances, reimbursed care)
Public employee compensation
Operating purchases
Interest on debt
Subsidies
Investment
Other transfers
Revenue

← widens the deficitnarrows it →

Detail by item · 2013 → 2020

Detail by item	Side	2013	2020	Change (pt)	Effect on balance (pt)
Other taxes on goods and services (excises, oil and gas export duties, customs…)	Revenue	8.42	4.13	−4.29	−4.29
Public employee compensation	Spending	9.49	10.28	+0.79	−0.79
Investment	Spending	4.39	5.09	+0.69	−0.69
Other revenue (oil and gas extraction tax, dividends, fund income…)	Revenue	12.09	11.47	−0.62	−0.62
Social benefits (pensions, allowances, reimbursed care)	Spending	12.80	13.35	+0.55	−0.55
Payroll, property and other taxes	Revenue	1.46	0.99	−0.47	−0.47
Other transfers	Spending	1.25	1.60	+0.35	−0.35
Interest on debt	Spending	0.64	0.93	+0.29	−0.29
Operating purchases	Spending	5.89	6.06	+0.17	−0.17
Subsidies	Spending	4.21	4.01	−0.21	+0.21
Household income taxes	Revenue	3.43	3.69	+0.25	+0.25
Corporate income tax	Revenue	2.78	3.72	+0.95	+0.95
Social contributions	Revenue	6.31	7.71	+1.41	+1.41
VAT (NDS)	Revenue	4.91	6.86	+1.95	+1.95
Total revenue	Revenue	39.39	38.57	−0.83	−0.83
Total spending	Spending	38.69	41.32	+2.63	−2.63
Balance	Balance	0.71	-2.76	−3.46	−3.46

The drivers

The war years according to the IMF

General government revenue and spending, % of GDP, IMF World Economic Outlook (actual years). Another source than the detailed accounts above: levels differ slightly.

Spending · 39.1% (2025)
Revenue · 35.3% (2025)

Public balance since 1998

% of GDP. Negative = deficit. Outside 2000-2021: IMF World Economic Outlook.

Balance · −3.9% (2025)

See the card:Budget balance →

Oil and gas in revenue

Extraction tax (rents) and export duties, % of GDP.

Extraction tax · 6.2% (2021)
Export duties · 1.9% (2021)

Gross public debt

% of GDP, IMF (World Economic Outlook), actual years.

Gross debt · 16.6% (2025)

See the card:Public debt →

The demographic driver

Share of people aged 65 and over (%), World Bank.

65 and over · 15.7% (2021)

See the card:Share of people aged 65 and over →

Who runs the balance?

Balance by level of government, % of GDP.

Federal government · 1.3% (2021)
Regions · 1.2% (2021)
Social funds · −0.1% (2021)

Russia and France

Public spending, % of GDP

Russia · 35.1% (2021)
France · 58.3% (2021)

See the card:Public spending →

Public revenue, % of GDP

Russia · 37.5% (2021)
France · 51.8% (2021)

Public balance, % of GDP

Russia · 2.4% (2021)
France · −6.6% (2021)

See the card:Budget balance →

Gross public debt, % of GDP

Russia · 16.5% (2021)
France · 125.8% (2021)

See the card:Public debt →

Revenue structure

One bar per country, stacked by type of revenue, % of GDP.

Year

Social contributions
Household income taxes
VAT
Other taxes on goods and services
Corporate income tax
Payroll, property and other taxes
Other revenue

Where Russia raises more (or less) than France

Russia minus France, points of GDP, same year. To the right, Russia is above.

Russia − France · 2021

← lowerhigher →

Spending by nature

What public money pays for: wages, social benefits, purchases, interest… Russia pays far fewer social benefits and almost no interest.

Year

Social benefits (pensions, allowances, reimbursed care)
Public employee compensation
Operating purchases
Interest on debt
Subsidies
Investment
Other transfers

Russia − France by type of spending, points of GDP

Russia − France · 2020

Yearly data

Show the table of revenue, spending, balance and debt by year

Year	Revenue	Spending	Balance	Balance (% of GDP)	Debt (% of GDP)
2021	₽50,906bn	₽47,706bn	₽3,200bn	2.4%	16.5%
2020	₽41,522bn	₽44,488bn	−₽2,966bn	−2.8%	19.2%
2019	₽44,665bn	₽41,424bn	₽3,241bn	3.0%	13.7%
2018	₽39,982bn	₽35,645bn	₽4,337bn	4.2%	13.6%
2017	₽32,891bn	₽33,646bn	−₽755bn	−0.8%	14.3%
2016	₽31,176bn	₽32,380bn	−₽1,205bn	−1.4%	14.8%
2015	₽31,110bn	₽32,877bn	−₽1,767bn	−2.1%	15.3%
2014	₽31,046bn	₽31,725bn	−₽679bn	−0.9%	15.1%
2013	₽28,752bn	₽28,237bn	₽515bn	0.7%	12.3%
2012	₽27,797bn	₽26,001bn	₽1,796bn	2.6%	11.2%
2011	₽25,390bn	₽23,520bn	₽1,870bn	3.1%	10.3%
2010	₽18,865bn	₽19,537bn	−₽672bn	−1.4%	10.1%
2009	₽16,340bn	₽18,540bn	−₽2,200bn	−5.3%	9.9%
2008	₽20,097bn	₽17,855bn	₽2,242bn	5.1%	7.4%
2007	₽15,798bn	₽13,430bn	₽2,369bn	6.6%	8.0%
2006	₽10,861bn	₽8,530bn	₽2,331bn	8.1%	9.8%
2005	₽9,072bn	₽6,864bn	₽2,208bn	9.5%	14.9%
2004	₽6,773bn	₽5,787bn	₽986bn	5.4%	20.8%
2003	₽5,314bn	₽5,064bn	₽250bn	1.8%	28.3%
2002	₽5,385bn	₽4,638bn	₽747bn	6.4%	37.6%
2001	₽3,588bn	₽3,343bn	₽245bn	2.6%	44.4%
2000	₽2,768bn	₽2,514bn	₽254bn	3.2%	55.9%

Sources and method

IMF, Government Finance Statistics (GFS). Revenue by type, spending by nature (to 2020), balance by level of government, extraction tax and export duties: Russian general government, 2000–2021. France in the comparison is read from the same tables. 2022 and 2023, contradicted by IMF estimates, are left out.IMF GFS (DBnomics)
IMF, World Economic Outlook (October 2026). Revenue, spending and balance from 2022 to 2025, balance before 2000, gross debt, GDP deflator. Only actual years are kept: IMF estimates and projections are left out.IMF World Economic Outlook, October 2026
World Bank. Share of people aged 65 and over.World Bank SP.POP.65UP.TO.ZS
Method and reliability. Spending = expense + net investment in non-financial assets; balance = net lending or borrowing. Constant roubles: current roubles adjusted with the GDP deflator. Russian official statistics are the best available, but their reliability is questionable, especially since 2022: restricted publications, classified military spending.
Further reading. Ministry of Finance, Bank of Russia.Минфин России Банк России