Russia’s 2027 budget: Tax hikes, spending cuts, more war
The Russian government has endorsed the key parameters for the 2027 budget. The full details will not be published before Oct. 1, but the first details give a clear indication of the authorities’ intentions.
Russia's 2027 budget reflects the government's strategy to balance spending cuts with increased taxes in order to manage the deficit, as the ongoing war in Ukraine continues to drain resources. The early figures for the budget, announced this week, indicate that tax hikes and spending cuts will be implemented to prevent the deficit from spiraling out of control, similar to the situation in 2025 and 2026.
However, the plan faces challenges due to stagnation in the economy, falling oil prices, and a lack of real income growth, all of which create high uncertainty for the coming year of warfare.
Written by urgent.news from The Bell's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
