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Wealthy Moscow cuts investment, revealing Russia's deeper budget problems
Moscow's 2026 investment budget cut by 10% and municipal staff reduced by 15% after revenue growth slowed to 2%, below the planned 6.5%, signaling fiscal strain.
2 Articles
2 Articles
Wealthy Moscow cuts investment, revealing Russia's deeper budget problems
The city of Moscow, Russia's wealthiest federal unit, will cut its large investment programme for the first time since the COVID-19 pandemic, a sign of deteriorating regional finances in the fifth year of the conflict in Ukraine.
·United Kingdom
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Photo: CEPA For the first time since the coronavirus pandemic, Moscow will reduce its major investment program. According to a statement made by Moscow Mayor Sergei Sobyanin via social media, “the results of the first two months show that revenue growth has slowed to 2%, which is less than the 6.5% planned when drafting this year’s budget.” According to Sobyanin, investment spending for 2026, which was initially set at 1.2 trillion rubles ($15.3…
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