budget deficit

State budget falls $690 million short of eight-month revenue plan

Ukraine’s state budget received UAH 33.1 billion ($690 million) less revenue than planned in January-August 2026, while lawmakers are warning that further shortfalls in international financing could force sharp spending cuts.

2 September, 12:30 PM

Estonian intelligence chief says Russia could collapse rapidly

Estonian Foreign Intelligence Service chief Kaupo Rosin said discontent with the Kremlin's war against Ukraine is growing in Russia, warning that if the country collapses, "it will happen very quickly" on Aug. 29.

29 August, 09:44 PM

Putin orders more aid as Russian regional finances deteriorate

Russian leader Vladimir Putin has ordered the government to provide additional support to the country’s regions as their financial position deteriorates, with further debt write-offs and repayment deferrals set to become the main tools, The Moscow Times reported.

21 August, 04:55 PM

Russia’s central bank gold reserves fall to lowest level since 2020 — Bloomberg

Russia’s central bank gold holdings have continued to decline sharply, falling to 73.2 million troy ounces, or about 2,280 metric tons, as of Aug. 1, Bloomberg reported.

21 August, 11:35 AM

Russian e-commerce giants seek hundreds of billions in state aid

Russia’s largest e-commerce companies have asked the government for direct federal budget assistance to compensate sellers for losses caused by Ukrainian drone attacks, Russian newspaper Vedomosti reported.

15 August, 11:57 AM

Russia to sell 30.4% state stake in Sheremetyevo Airport as finances come under pressure

Vladimir Putin has cleared the sale of the government's 30.4% stake in Sheremetyevo, Russia's largest airport, as Moscow seeks to bolster state finances strained by the war, Reuters reported on Aug. 7.

7 August, 07:16 PM

Kremlin turns to money printing to finance war against Ukraine

Russia is increasingly financing its war against Ukraine through hidden ruble issuance, forcing state banks to buy federal bonds with liquidity provided by the Russian central bank as market funding dries up.

28 July, 02:08 PM

Russia sells record 44 tons of gold to plug budget gap while preserving yuan reserves

Russia's central bank has sold 43.5 metric tons of gold from its reserves since the start of 2026 to help cover a federal budget deficit that reached nearly 6 trillion rubles in the first half of the year on July 22.

22 July, 10:57 AM

Pentagon faces urgent budget shortfall driven by war with Iran

The Pentagon faces an urgent budget shortfall caused largely by the war with Iran, The Washington Post, citing current and former U.S. officials, reported on July 21.

22 July, 08:29 AM

Analysts warn Russia faces risk of economic collapse

Russia's economy is entering its final stage of decline and could even face economic collapse, according to the Kiel Report published by the Kiel Institute for the World Economy and the Stockholm Institute of Transition Economics, German newspaper FAZ reported on June 18.

18 June, 01:16 PM

European researchers warn of structural strain in Russian economy

Russia's economy is showing clear signs of structural exhaustion more than four years into its full-scale war against Ukraine, with liquid assets in its National Wealth Fund shrinking by more than threefold and oil and gas revenues nearly halving, according to a study cited by Deutsche Welle on June 11.

11 June, 04:39 PM

Russian regions ordered to raise taxes to cover record budget deficit

The Russian Federal Tax Service has instructed regional authorities across Russia to investigate tax increases for citizens and businesses to bridge an unprecedented, combined local budget deficit that reached a record 1.5 trillion rubles (nearly $21 billion) in 2025, the Moscow Times reported on June 8.

9 June, 02:19 PM

Russia’s 2026 war budget deficit grows to $28 billion — FT

Russia’s spending on its war against Ukraine could exceed the 2026 budget by at least RUB2 trillion ($28 billion), putting added pressure on Kremlin finances, according to a letter from Finance Minister Anton Siluanov reviewed by the Financial Times on May 29.

30 May, 02:25 AM

Ukraine's parliament ratifies €90 billion EU loan to fund budget, defense through 2027

Ukraine's parliament ratified on May 28 a loan agreement and memorandum with the European Union providing up to 90 billion euros ($105 billion) in financial assistance for 2026–2027, with 298 lawmakers voting in favor.

28 May, 12:29 PM

Russia’s budget deficit grows despite higher oil prices

Russia’s federal budget deficit continued to widen despite rising oil prices linked to tensions in the Middle East, exceeding the country’s full-year target by 50% in the first four months of the year, The Moscow Times reported on May 11.

11 May, 03:19 PM

Ukraine faces systemic shortage of imported medicines

Ukraine faces a systemic shortage of imported medicines in retail, with some cases posing a real risk of losing certain therapies or leaving patients without therapeutic alternatives, according to industry concerns on Apr. 2.

2 April, 11:49 AM

Ukraine needs $15B for recovery in 2026, only 38% secured — Kuleba

Ukraine’s priority recovery needs for 2026 total $15 billion, with only 38% of the required funding secured so far, Deputy Prime Minister Oleksii Kuleba said at a meeting of the Ukraine Platform Steering Committee, Interfax-Ukraine reported on March 26.

26 March, 11:46 AM

Russia sells gold reserves for first time in 25 years to cover budget gap

Russia is selling physical gold from its central bank reserves for the first time in nearly 25 years to cover a widening federal budget deficit, which has exceeded 15 trillion rubles since 2022 and added another 3.5 trillion in early 2026, The Moscow Times reported on March 24.

24 March, 10:19 AM

Surging global oil prices still fail to rescue Russia's breaking federal budget

Global oil prices rose following the conflict in Iran to their highest level since July 2024, however, this is still insufficient to balance the Russian budget, Reuters wrote on March 3.

4 March, 10:10 AM

Ukraine misses $278 million in January taxes amid attacks

Ukraine fell short by about 12 billion hryvnias ($277.6 million) in customs and tax collections to the general fund in January 2026, primarily due to a drop in VAT caused by damage to the energy sector, Prime Minister Yulia Svyrydenko said on Feb. 16, according to the Ukrinform news agency.

16 February, 05:52 PM

budget deficit

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