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As war strains Kremlin finances, Putin reaches into more pockets in search of new revenue streams
- Russia’s 2027–2029 budget includes proposed new taxes as the government seeks revenue amid rising military spending and weaker civilian economic activity.
- The proposed measures target mining companies, investment income, property sales, bank interest, foreign online purchases, and dividends paid to some foreign investors.
- Russia’s budget deficit reached 5.8 trillion rubles through August, exceeding the revised annual target, while sanctions restrict access to international borrowing and liquid assets in the National Wealth Fund have declined.
- Analyst Chris Weafer said Russia can cover its deficit in 2027 and likely 2028, but warned that higher taxes and military spending are reducing funds for households, infrastructure, and broader economic development.
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13 Articles
13 Articles
The Toronto Star+11 Reposted by 11 other sources
As war strains Kremlin finances, Putin reaches into more pockets in search of new revenue streams
With Russia’s invasion of Ukraine intensifying the strain on state finances, President Vladimir Putin is reaching for cash to fund his government and the war, squeezing tax revenue from an economy that’s increasingly skewed toward the military — while civilian…
·Toronto, Canada
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As Russia's economy shifts more and more to accommodate the military, the Kremlin is forced to come up with new tariffs for businesses and ordinary citizens to plug a growing budget hole.
Coverage Details
Total News Sources13
Leaning Left6Leaning Right1Center5Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 42%
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