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<div class="key-points-section"><strong>Key Points:</strong>
 <ul>
  <li>Russia projects a budget deficit affecting ruble's strength.</li>
  <li>Rising deficits due to reduced oil revenues.</li>
  <li>Debt issuance to cover budget shortfalls.</li>
 </ul>
</div> 
<p>Russia projects a 3.786 trillion ruble budget deficit by 2026, driven by war expenses and decreased oil and gas revenues, potentially affecting the ruble's status as a top global currency.</p>  
<p>The mounting deficit underscores fiscal strain, challenging Russia's financial balance and impacting global currency dynamics amid ongoing geopolitical tensions and economic pressures.</p> 
<section>
 <p>Russia's government recently projected a significant <strong>federal budget deficit</strong> of 3.786 trillion rubles by 2026. This marks an increase in fiscal pressures driven by war-related expenditures and declining <a href="https://minfin.gov.ru/ru/document?id_4=40119-predvaritelnaya_otsenka_ispolneniya_federalnogo_byudzheta_za_yanvar-noyabr_2025_goda">oil and gas revenues</a>.</p>
 <p>No direct statements from key leaders like President Vladimir Putin were noted. The Russian Government and Ministry of Finance <a href="https://minfin.gov.ru/common/upload/library/2025/11/main/Budzhet.pdf?ysclid=mjjyv4hm2u556313471">spearhead the budget framework</a>, aiming for a balance to protect <strong>financial sovereignty</strong>.</p>
 <p>The deficit is set to be covered by a substantial increase in debt issuance, pushing public <strong>debt-to-GDP ratio</strong> to 20% by 2028. The <strong>ruble's appreciation</strong> has adversely impacted government revenue streams.</p>
 <blockquote>
  "With the expected budget deficits, the public debt-to-GDP ratio is projected to rise significantly by the end of 2028." - Financial Expert, BOF Bulletin
 </blockquote>
 <p>Oil and gas revenues have seen a year-on-year decline due to the <a href="https://minfin.gov.ru/common/upload/library/2025/03/main/BDG_2025-2027.pdf?ysclid=mjirdem6n2922516705">strengthening ruble and sanctions</a>, prompting planned tax hikes like VAT increases. Non-oil revenues, however, have shown modest growth.</p>
 <p>Historical precedents indicate borrowing surges and inflation control via high rates. Similar trends have developed previously in response to escalating deficits.</p>
 <p>Projected deficits average around <strong>1.4% GDP</strong> through 2026–2028, as reported by the <a href="https://interfax.com/newsroom/top-stories/113949/">Russian Government site</a>. This situation underscores challenges in maintaining economic stability amid fiscal constraints.</p>
</section> <a href="https://coinwy.com/russia-budget-deficit-ruble-challenge/">Read original article on coinwy.com</a>
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Russia's Budget Deficit Challenges Ruble's Currency Strength

Coinwy

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