Russia is already cutting its 2026 budget
Hello! Welcome to your weekly guide to the Russian economy, written by Alexandra Prokopenko and Alexander Kolyandr and brought to you by The Bell. Barely two months into 2026, the Russian government has already been forced to start talking about spending cuts, as reality starts to bite for its overly optimistic budget plan.
Reality check for Russia’s ambitious budget
The Russian government is preparing to cut spending amid declining oil revenues and a slowing economy — the first acknowledgment just two months into the year that it is impossible to meet its commitments within the ambitious parameters it set out for the 2026 budget.
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