Russia Plans Broad Tax Hikes as Budget Deficit Widens
7 Articles
7 Articles
Russia’s deficit exceeds all the Russian government’s forecasts. Kremlin spokesman’s broken promise also casts doubt on his denial of a mobilisation
Russia plans broad tax hikes as budget deficit widens
The "elections" are over – and now authorities are preparing a new round of tax hikes for Russians. As expected, after the "elections" in Russia, the government is planning significant tax increases aimed at funding the Kremlin's ongoing war against Ukraine. The tax-hiking season in Russia has officially begun, according to independent Russian economist Vyacheslav Shiryaev. Among the initial measures being considered are a new recycling fee, cha…
The Russian authorities ' decision will affect some 4 million people in Russia ' s preparation for a new tax increase for the years 2027-2029 in order to finance military spending in the face of a growing budget deficit and economic deterioration, as reported by RBK-Ukraine with reference to Reuters. In the draft new budget for defence and security, Russia has identified a key strategic priority. In 2027, Russian budget revenues are pr…
Kremlin spokesman Dmitry Peskov assured on September 9 that despite the growing budget deficit, Russian politics is not currently considering raising taxes, or that the issue has not been discussed. Just fifteen days later, on September 24, the Russian Finance Ministry proposed a whole series of new taxes that would come into effect between 2027 and 2029. When asked about it by Russian journalists on Thursday, Peskov had no comment.
The Russian Ministry of Finance proposed to increase several taxes in order to finance the war in Ukraine, days after the legislative elections in which the Kremlin promised not to increase taxes.
On September 24, 2026, the Russian government approved the draft budget for 2027—2029, which defines defense and security as a “strategic priority”. To finance military spending, Moscow plans to raise a number of taxes.
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