Russia Plans ‘Acceptable’ 2026 Budget Deficit Amid War Spending

Russia plans to run a budget deficit for a fifth year as declining revenue and increased spending continue to put pressure on the government’s finances amid the Kremlin’s war on Ukraine.

The fiscal gap is projected at about 4.6 trillion rubles ($54.8 billion) in 2026, or about 1.6% of gross domestic product, according to the Finance Ministry’s budget presented to the government on Wednesday. Prime Minister Mikhail Mishustin called that an “acceptable” shortfall in televised remarks.