12.08.2026, 05:43
The Russian budget deficit has been assessed
Source: OREANDA-NEWS
OREANDA-NEWS According to preliminary estimates, the federal budget deficit reached about 6.46 trillion rubles in the first seven months of 2026. This is reported on the website of the Ministry of Finance of the Russian Federation.
The budget law for 2026 sets the deficit at about 3.8 trillion rubles. Thus, in less than a year, the planned figure was exceeded by about 1.7 times.
The Ministry of Finance attributed a serious discrepancy between the real level of the deficit and the target, primarily to "advanced cost financing." The latest figure for the reporting period reached 28.57 trillion (plus 14.5 percent year-on-year), while budget revenues over the same period amounted to only 22.1 trillion (plus 8.8 percent).
Oil and gas revenues, which decreased by 16.8 percent in January-July, did not help to compensate for the difference in the dynamics of expenses and income. The ministry explained this trend by a decrease in energy prices in previous periods.
According to the forecast of analysts at the Center for Macroeconomic Analysis and Short-term Forecasting (CMAKP), by the end of the year, the Russian budget deficit may reach 7 trillion rubles. Experts agree that the government has fewer and fewer opportunities to finance rapidly growing expenses.
Against this background, the Ministry of Finance had not previously ruled out revising the target for 2026, taking into account the real dynamics. Judging by the norms adopted in June, Olga Belenkaya, head of the Macroeconomic analysis department at Finam, noted that the government is not going to cut costs. The changes allow him to borrow and spend funds without changing the legislation.
The budget law for 2026 sets the deficit at about 3.8 trillion rubles. Thus, in less than a year, the planned figure was exceeded by about 1.7 times.
The Ministry of Finance attributed a serious discrepancy between the real level of the deficit and the target, primarily to "advanced cost financing." The latest figure for the reporting period reached 28.57 trillion (plus 14.5 percent year-on-year), while budget revenues over the same period amounted to only 22.1 trillion (plus 8.8 percent).
Oil and gas revenues, which decreased by 16.8 percent in January-July, did not help to compensate for the difference in the dynamics of expenses and income. The ministry explained this trend by a decrease in energy prices in previous periods.
According to the forecast of analysts at the Center for Macroeconomic Analysis and Short-term Forecasting (CMAKP), by the end of the year, the Russian budget deficit may reach 7 trillion rubles. Experts agree that the government has fewer and fewer opportunities to finance rapidly growing expenses.
Against this background, the Ministry of Finance had not previously ruled out revising the target for 2026, taking into account the real dynamics. Judging by the norms adopted in June, Olga Belenkaya, head of the Macroeconomic analysis department at Finam, noted that the government is not going to cut costs. The changes allow him to borrow and spend funds without changing the legislation.
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