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2026-09-21 20:54:13
[Russian Finance Minister: 2026 Budget Deficit May Reach 3% of GDP, Plans to Expand Welfare Fund] ⑴ The Russian Finance Minister stated that the 2026 budget deficit could reach as high as approximately 3% of GDP. ⑵ Russia plans to increase the National Welfare Fund by approximately 600 billion to 1 trillion rubles. ⑶ Given the impact of sanctions and export restrictions on energy revenue, the simultaneous expansion of the deficit and the welfare fund may reflect the pressure to balance fiscal buffers with expenditure needs. The subsequent impact of oil price trends and the effectiveness of sanctions enforcement on Russian finances needs to be closely monitored.
