根据财政部的初步数据，俄罗斯联邦政府在2025年1月至9月期间公布了3.8万亿卢布的预算缺口，占国内生产总值的1.7%，而2024年同期则有0.2万亿卢布的盈余。这一数字低于政府2025年新的目标，即GDP的2.6%，高于上个月提交给议会的预算文件草案中的1.7%。政府总支出同比增长19.5%，达到30.7万亿卢布，而收入增长2.5%，达到26.9万亿卢布。

The Russian Federal Government posted a budget gap of RUB 3.8 trillion in the January-September period of 2025, or 1.7% of the GDP, compared to a surplus of RUB 0.2 trillion during the same period in 2024, according to preliminary data from the Finance Ministry. The figure was below the government’s new 2025 target of 2.6% of GDP, raised from 1.7% in draft budget documents submitted to parliament last month. Total government spending jumped 19.5% year-on-year to RUB 30.7 trillion, while revenues increased at a much slower 2.5% to RUB 26.9 trillion.

俄罗斯央行储备从之前的7133亿美元攀升至7225亿美元。俄罗斯央行储备从之前的7133亿美元攀升至7225亿美元

Russia Central Bank Reserves $ climbed from previous $713.3B to $722.5B.Russia Central Bank Reserves $ climbed from previous $713.3B to $722.5B

标准普尔全球俄罗斯服务业采购经理人指数在2025年9月降至47.0，低于8月份的50.0的三个月高点。这标志着服务业在过去四个月里第三次收缩，也是自2022年12月以来的最大跌幅，反映出在新订单大幅下降的情况下，产出再次下滑。 尽管新销售额持续疲软，但俄罗斯服务提供商仍在继续扩大员工队伍。就业创造总体上保持稳定，是2024年1月以来最快的。在定价方面，由于供应商、工资和公用事业费用的上涨，投入成本通胀加速至五个月来的最高点。然而，产出价格通胀有所缓解，这反映了强劲的市场竞争和刺激需求的努力。展望未来，商业情绪有所改善，但仍低于历史平均水平，因为企业对经济稳定性的改善和客户数量的潜在增长表示谨慎乐观。

The S&P Global Russia Services PMI fell to 47.0 in September 2025, down from August’s three-month high of 50.0. This marked the third contraction in the services sector over the past four months and the steepest decline since December 2022, reflecting a renewed downturn in output amid a sharp drop in new orders. Despite the sustained weakness in new sales, Russian service providers continued to expand their workforce. Job creation remained solid overall and was the fastest since January 2024. On the pricing front, input cost inflation accelerated to a five-month high, driven by higher supplier, wage, and utility expenses. However, output price inflation eased, reflecting strong market competition and efforts to stimulate demand. Looking ahead, business sentiment improved but remained below the historical average, as firms expressed cautious optimism about improved economic stability and a potential rise in customer numbers.

标准普尔全球俄罗斯综合采购经理人指数从上个月的49.1降至2025年9月的46.6，为2022年10月以来的最低水平，也是私营部门活动连续第四个月收缩。制造业产出下降幅度更大，而服务业也恢复收缩。新订单以2022年5月以来的最快速度萎缩，这两个行业的降幅都更大。就业趋势出现分化：制造商再次裁员，但服务业的强劲招聘推动了自2024年8月以来最强劲的整体劳动力增长。与此同时，由于企业清理了未完成的工作，积压订单连续第三个月下降。通货膨胀压力持续存在，两个行业的投入成本和产出费用都以更快的速度上涨。尽管存在这些不利因素，但在乐观情绪普遍上升的支持下，商业信心较8月份有所改善。

The S&P Global Russia Composite PMI fell to 46.6 in September 2025 from 49.1 in the previous month, marking the lowest since October 2022 and the fourth straight month of contraction in private sector activity. Manufacturing output declined more sharply, while services also returned to contraction. New orders shrank at the steepest pace since May 2022, with both sectors seeing sharper drops. Employment trends diverged: manufacturers cut jobs again, but robust hiring in services drove the strongest overall workforce growth since August 2024. Meanwhile, backlogs fell for a third month as firms cleared incomplete work. Inflationary pressures persisted, with input costs and output charges rising at faster rates across both sectors. Despite these headwinds, business confidence improved from August, supported by a broad-based uptick in optimism.