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2026-05-27 07:52:56
[Russian Finance Ministry Plans to Adjust Budget Parameters to Address Macroeconomic Changes and Priorities] (1) Russian Finance Minister Siluanov stated that due to changes in the macroeconomic environment and the need to concentrate resources on priority areas, the Ministry of Finance will adjust budget parameters. (2) He mentioned that external uncertainties have intensified, especially the conflict in the Middle East. Therefore, the Ministry of Finance has drafted legislative proposals to ensure the smooth implementation of the budget without interference from external factors. (3) The adjustments involve three aspects: social programs, defense and security, technological priorities, and mandatory expenditures affected by inflation and interest rates. (4) According to the current budget law, the budgets for 2026–2028 will all be in deficit: revenue will increase from 40.283 trillion rubles to 45.869 trillion rubles, and expenditures will increase from 44.069 trillion rubles to 49.383 trillion rubles. (5) The deficit ratio is projected to be 1.6% of GDP in 2026, decreasing to 1.2% in 2027, and 1.3% in 2028. The main source of funds to cover the deficit is Russian state borrowing.
