Budget execution in Tomsk region happens with a nearly 8 billion ruble deficit
In the first half of 2025, Tomsk Oblast, a region in western Siberia, has reported a budget deficit of 7.772 billion rubles, representing 14% of its total expenses. This deficit, a combination of reduced revenues and increased expenses, alongside a rising state debt burden, has raised concerns about the region's financial stability.
The decline in revenues can be attributed to broader economic difficulties, such as lower tax income or reduced federal transfers amid Russia’s economic challenges in 2025. For instance, other regions like Donbas are also facing high deficits, with projected revenues of 450 billion rubles and a deficit of 6–7%.
Expenses, on the other hand, are likely growing due to investments in local infrastructure, industrial development, and social programs. The Russian government remains focused on regional industrial growth, including support for small and medium enterprises through loans and support mechanisms. Furthermore, security and military education investments growing nationally might contribute to regional expenses, such as the planned establishment of new military schools in Tomsk by 2034.
To cover the deficit, Tomsk Oblast may be increasing its state debt. Government meetings about debt relief on budget loans imply that regional borrowings could be significant, adding to fiscal pressure. As of July 1, 2025, the state debt of Tomsk Oblast stands at 56.46 billion rubles.
A 14% deficit is substantially high, indicating that Tomsk Oblast’s expenses exceed revenues by a notable margin. This situation can constrain the region’s ability to finance public services or investments without expanding debt. Increased state debt could lead to higher interest payments, reducing fiscal space for other priorities and potentially creating solvency risks if deficits persist.
Ongoing financial strain could impact economic development, as funds may be diverted from industrial and social projects to debt servicing or emergency fiscal measures. The imbalance might reduce investor confidence and hamper long-term strategic goals like achieving industrial sovereignty and infrastructure modernization emphasized by federal programs.
In the first half of 2025, the regional budget's revenues amounted to 48.063 billion rubles, a 7.1% decrease from the same period in 2024. Personal income tax contributed 12.55 billion rubles, property tax 2.99 billion rubles, and excises 5.68 billion rubles to the regional budget's own revenues. Profit tax contributed 7.74 billion rubles, and the budget for 2025 was approved with a deficit of 7.4 billion rubles (5.9% of expenses).
The total planned revenue for 2025 is 118.3 billion rubles, with the total planned expenses set at 125.7 billion rubles. Of the state debt, 39.8 billion rubles are budget loans, and 16.66 billion rubles are government bonds. The own revenues of the regional budget decreased by 5.8% and amounted to 33.66 billion rubles. Expenses increased by three billion rubles at the end of June, and the region's expenses in the first half of 2025 increased by 8.3% to 55.835 billion rubles.
Without corrective fiscal measures, this deficit could constrain regional development and increase financial vulnerability. It is crucial for Tomsk Oblast to address this issue to maintain economic stability and support its long-term growth objectives.
The decline in revenues in Tomsk Oblast might be due to various factors in the business sector, such as reduced revenues from taxes and federal transfers, which are affecting Russia's economy in 2025. On the other hand, increased expenses are being driven by the finance industry, with investments in local infrastructure, industrial development, and social programs contributing to the growth.
