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9.2
Russia Proposes Tax Hikes to Cover Defense Spending, Budget Deficit at 2% of GDP
Digi24LO·RU·about 3 hours ago
Russia's Ministry of Finance announced a planned federal budget deficit of around 2% of GDP annually for 2027-2029. This signals sustained fiscal expansion amid ongoing military spending and sanctions pressure. The deficit level is moderate but indicates continued reliance on reserves or borrowing.