Russia’s budget deficit may almost triple this year as oil revenues decline 

Russia’s public deficit could balloon to almost triple the official target by end-2026 as a fall in Indian purchases of oil and growing oil trade discounts eat into revenues while spending may be higher than expected, a source close to the government told Reuters. 

Why it matters

The source cited calculations by economists from a government-linked think tank, which are not planned for publication. They are the latest sign of growing strains on a Russian economy facing sanctions, high interest rates and labour shortages.