Russia's Budget Deficit Surpasses Annual Plan by 70%
The Russian federal budget ran a deficit of 6.45 trillion rubles from January to July 2026, exceeding the annual budget plan by 70.5% and surpassing the same period in 2025 by 1.3 times, driven by declining oil and gas revenues and rising expenditures.
Consensus
- The Russian federal budget had a deficit of 6.45 trillion roubles from January to July 2026.
- The deficit exceeded the annual budget plan for 2026 by 70.5%.
- The deficit for the same period in 2026 was 1.3 times higher than in 2025.
- Oil and gas revenues declined by 16.8% over the first seven months of 2026.
- Federal expenditures increased by 14.5% compared to the same period in 2025.
- The Ministry of Finance attributed the deficit increase to faster-than-planned spending and lower oil and gas revenues.
- The Ministry of Finance stated that the annual deficit forecast would slightly increase.
Points of divergence
- The U.S. federal budget deficit in July 2026 reached 432.308 billion dollars, a 48.5% increase from the same month in 2025, and the highest for July since spring 2021. — vesti
- The Russian federal budget deficit in July 2025 was 4.622 trillion roubles, and the deficit in July 2026 was 724 billion roubles. — tg_istories_media
- The Russian federal budget deficit for January–July 2026 was 6.455 trillion roubles, or 2.8% of GDP. — thebell
- The Russian government approved a law allowing spending above the planned 44 trillion roubles by using internal debt. — tg_istories_media
- Non-oil and gas revenues increased by 18.3% and VAT receipts rose by 24.9% in the first seven months of 2026. — thebell
- Regions had to raise property and transport taxes and reduce contract signing payments due to inability to manage military spending. — tg_istories_media
- The U.S. military budget is projected to increase by 50% in 2027, reaching 1.5 trillion dollars. — vesti
Coverage (3 sources)
- US budget deficit in July became a record for this month — Вести
- Budget deficit exceeded annual plan by 70.5%. Currently it is 1.3 times greater than the same indicator for 2025 — Важные истории
- Budget deficit for January-July reached 6.5 trillion rubles, 70% more than the annual plan — The Bell