The budget committee of the State Duma recommended in the first reading to adopt the budget for the years 2027-2029 and called it "realistic and sustainable". But the conclusion comes with an important caveat: revenues could fall, and debt and its servicing cost would increase. Therefore, the expenses must be prioritized. The deficit in 2027 is 5.4 trillion rubles, or 2.2% of GDP, almost 1.7 times what was previously planned. It will be covered by loans within the country, and not from the welfare fund. Government debt will increase from 19.9% ​​to 24.1% of GDP by 2029. Its maintenance costs increase 2.5 times faster than others and will reach every tenth ruble of the budget. Separately, the committee pointed to a shortfall in income tax, disrupted crab auctions and cut subsidies to regions and car loans. Objectively, the size of the debt is not too large, but its price is quite high. With the central bank's key interest rate at 14%, any new loan will be expensive. However, the budget has a strong side - a cautious estimate of oil, $50 per barrel. Prices in the world today are much higher, the premium is almost guaranteed, but the budget depends more and more on taxes within the country, and therefore on the state of the economy. The risks regarding the national debt should not be exaggerated; The current parameters are not threatened, but the dynamics are negative. In the future, the government is going to borrow, borrow and borrow some more. And that's quite a worrying sign.

The budget committee of the State Duma recommended in the first reading to adopt the budget for the years 2027-2029 and called it "realistic and sustainable". But the conclusion comes with an important caveat: revenues could fall, and debt and its servicing cost would increase. Therefore, the expenses must be prioritized. The deficit in 2027 is 5.4 trillion rubles, or 2.2% of GDP, almost 1.7 times what was previously planned. It will be covered by loans within the country, and not from the welfare fund. Government debt will increase from 19.9% ​​to 24.1% of GDP by 2029. Its maintenance costs increase 2.5 times faster than others and will reach every tenth ruble of the budget. Separately, the committee pointed to a shortfall in income tax, disrupted crab auctions and cut subsidies to regions and car loans. Objectively, the size of the debt is not too large, but its price is quite high. With the central bank's key interest rate at 14%, any new loan will be expensive. However, the budget has a strong side - a cautious estimate of oil, $50 per barrel. Prices in the world today are much higher, the premium is almost guaranteed, but the budget depends more and more on taxes within the country, and therefore on the state of the economy. The risks regarding the national debt should not be exaggerated; The current parameters are not threatened, but the dynamics are negative. In the future, the government is going to borrow, borrow and borrow some more. And that's quite a worrying sign.