EconomyRussia plans budget deficits for three years, with combined shortfall near 16 trillion rubles
The Russian government has submitted a 2027–2029 federal budget draft to the State Duma. It forecasts deficits of 5.5 trillion rubles in 2027, 5.1 trillion in 2028, and 5.3 trillion in 2029, or about 2% of GDP annually. Priorities include welfare, support for participants in the “special military operation,” defense and security, health care, education, and technology. The draft also proposes higher taxes on passive income and a 22% VAT on cross-border e-commerce purchases. Reuters reported that 2027 military spending would reach a record 17.1 trillion rubles.
MMeduza★★★★☆2026-09-30 20:35Original
Russia plans budget deficits for three years, with combined shortfall near 16 trillion rubles