State Duma passes draft federal budget

Russia’s State Duma has adopted the draft federal budget for 2026 and the planning period of 2027-2028 in its third and final reading.

According to the document, Russia’s GDP will grow by 1.3% in 2026, and by almost 7% in three years, reaching around 276 trillion rubles ($3.4 trillion) in nominal terms.

Budget revenues are projected at 40.283 trillion rubles ($486 bln) in 2026, 42.9 trillion rubles in 2027, and 45.9 trillion rubles in 2028.

Budget expenditures are projected at 44.69 trillion rubles ($530 bln), 46 trillion rubles, and 49.3 trillion rubles, respectively.

Russia’s budget deficit is planned at 3.7 trillion rubles ($45.5 bln) in 2026, 3.186 trillion rubles in 2027, and 3.513 trillion rubles in 2028.

Inflation is expected at 4% in 2026-2028.