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RUSSIA: 2025 Budget Revenue to Grow by 12%, Manufacturing PMI Falls in Sep

RUSSIA
CEEMEAEM BulletRussiaBulletGlobalEmerging Market NewsRegion
  • The Russian government submitted the federal budget for 2025-2027 to the State Duma on Monday, Kommersant report. The idea behind the plan is to accumulate sufficient liquid reserves amid the unfavourable external environment and transition to full-fledged adherence to the fiscal rule. The 2025 budget projects revenue will grow by 12%, while spending will only increase by 5% and even shrink as a share of GDP.
  • Russia's federal budget revenues from the mineral extraction tax on gas will total about RUB 1trln in 2025, 30% less than the target for 2024, Vedomosti report citing the 2025-2027 budget plan.
  • Russia’s manufacturing PMI fell to 49.5 in September from 52.1 in August – the lowest reading since April 2022. New Orders fell to 48.7 from 51.9 the month prior.
  • Prime Minister Mikhail Mishustin visits Armenia today to take part in a meeting of the Eurasian Intergovernmental Council. There are no other data releases scheduled for today, with retail sales, unemployment rate and final Q2 GDP figures all set to cross tomorrow afternoon.
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  • The Russian government submitted the federal budget for 2025-2027 to the State Duma on Monday, Kommersant report. The idea behind the plan is to accumulate sufficient liquid reserves amid the unfavourable external environment and transition to full-fledged adherence to the fiscal rule. The 2025 budget projects revenue will grow by 12%, while spending will only increase by 5% and even shrink as a share of GDP.
  • Russia's federal budget revenues from the mineral extraction tax on gas will total about RUB 1trln in 2025, 30% less than the target for 2024, Vedomosti report citing the 2025-2027 budget plan.
  • Russia’s manufacturing PMI fell to 49.5 in September from 52.1 in August – the lowest reading since April 2022. New Orders fell to 48.7 from 51.9 the month prior.
  • Prime Minister Mikhail Mishustin visits Armenia today to take part in a meeting of the Eurasian Intergovernmental Council. There are no other data releases scheduled for today, with retail sales, unemployment rate and final Q2 GDP figures all set to cross tomorrow afternoon.