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The Russian government spent 31.7 trillion rubles in the first eight months of 2026, up 14.7% from a year earlier, while revenue grew just 9.2%, to 25.9 trillion rubles. Oil and gas revenue fell 16.7%, to five trillion rubles, though non-oil-and-gas revenue rose 18.1%, to 20.9 trillion rubles, offsetting much of that decline.
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The Kremlin does not consider the growing deficit “an indicator that should cause any serious concern.” The budget deficit is “a moving figure,” presidential spokesperson Dmitry Peskov said, adding that the macroeconomic stability of the Russian economy is “absolutely assured.”
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Authorities have not ruled out that the widening deficit will require additional financing for the budget, and the Finance Ministry plans to borrow only 5.5 trillion rubles on the domestic market for all of 2026.
Domestic borrowing grew too costly in June and July, when the Finance Ministry canceled three auctions for federal loan bonds after yields climbed above 16% annually. The ministry attributed the cancellations to market volatility, but experts said the real reason is that the Finance Ministry isn’t willing to borrow at such high rates. Besides issuing government debt, the ministry stated, authorities could cover the deficit by drawing on budget reserves and selling assets.
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10 Comments
Goldholz@lemmy.blahaj.zone · 23 pts · 3d
Aaaah the most trustful source. Right before, "Bejing says" and "Pyongjang says"
Lemming421@lemmy.world · 5 pts · 3d
The only Russian economists who disagree accidentally fell out of a bunch of windows
ExLisper@lemmy.curiana.net · 12 pts · 3d
rants_unnecessarily@piefed.social · 2 pts · 2d
You can add Trump/Washington says to that list.
Goldholz@lemmy.blahaj.zone · 1 pts · 2d
Indeed. However i was merely listing the once that cant be easily fact checked and that have been doing it for a while without a chance of them ever going away soon
l3mming@lemmy.world · 11 pts · 2d
Meanwhile, as of fiscal year 2026, the US budget deficit is projected to be 5.8% of GDP.
HK65@sopuli.xyz · 4 pts · 2d
While true, the dollar and thus the US deficit is subsidised by the rest of the world, the Ruble is not. The US is special when in comes to deficits, the only comparable npower is the EU, but not to that degree.
Europe and China are paying for US spending, but not for Russian spending.
Melchior@feddit.org · 7 pts · 3d
When you cancel auction because the interest is to high, but debt is not a problem....
A_norny_mousse@piefed.zip · 5 pts · 2d
Over and over, it's astonishing how old Soviet era jokes gain renewed* validity.
One went something like this: the only way to know for sure that there's a shortage of product X is when the Kremlin praises how the 5-year plan for product X went beyond target.
* yes, there was a time in the 90s when Russia was moving away from totalitarianism, and Putins reign (starting 2001 iirc) took a long time to get to where it is today.
manxu@piefed.social · 5 pts · 2d
To whom exactly would they sell these famous assets? To the mythical Russians that won't buy bonds at 16%? Is there an oligarch conscription that will force them to fork over money in exchange for beautiful plots of tundra?