Russia Raises 2026 OFZ Net Attraction Forecast by 1 Trillion Rubles to 5 Trillion

Russia's Ministry of Finance increased its 2026 domestic market net borrowing target via OFZ placements to 5 trillion rubles, up 1 trillion from the initial plan, per the draft federal budget for 2027-2029. This signals a larger fiscal deficit or refinancing need, potentially increasing domestic debt supply and pressuring local yields. The revision is part of the budget planning process and may reflect higher spending commitments or lower oil revenues.