The Russian government submitted to the State Duma a draft federal budget for the years 2027-2029. Already the first year of the three-year plan assumes a large deficit: with an income of 43.3 trillion rubles, expenses should amount to 48.8 trillion. The missing 5.5 trillion rubles equals 2.2% of GDP. National defense remains the top priority in spending - 17.1 trillion rubles are planned for it. More than 6.6 trillion is allocated to social policy. This division determines the high burden of security obligations on the budget, while simultaneously financing social programs and other functions of the state. The authorities intend to cover the deficit mainly with internal loans. This means that the treasury will have to raise funds in the Russian debt market, which increases the dependence of financing expenses on the demand for government bonds. The presented document still needs to undergo a parliamentary debate, but its parameters already indicate the extent of the upcoming budgetary burden. Ξeconomics.

The Russian government submitted to the State Duma a draft federal budget for the years 2027-2029. Already the first year of the three-year plan assumes a large deficit: with an income of 43.3 trillion rubles, expenses should amount to 48.8 trillion. The missing 5.5 trillion rubles equals 2.2% of GDP. National defense remains the top priority in spending - 17.1 trillion rubles are planned for it. More than 6.6 trillion is allocated to social policy. This division determines the high burden of security obligations on the budget, while simultaneously financing social programs and other functions of the state. The authorities intend to cover the deficit mainly with internal loans. This means that the treasury will have to raise funds in the Russian debt market, which increases the dependence of financing expenses on the demand for government bonds. The presented document still needs to undergo a parliamentary debate, but its parameters already indicate the extent of the upcoming budgetary burden. Ξeconomics.