Source: Reuters
“The Russian government is preparing a possible 10% cut to all ‘non-sensitive’ spending in this year’s budget, sources told Reuters, but the final decision will hinge on the sustainability of the oil price rise triggered by the Iran war. … The Finance Ministry told Reuters in comments on this story that it is discussing measures to prioritize budget spending with other ministries. Andrei Gangan, head of the monetary policy department at the central bank, said an optimisation of spending can only be welcomed. The ministry added that decisions will not affect spending on what Russia terms its ‘special military operation’ in Ukraine or social obligations to Russian citizens, but will help to avoid increasing debt and to retain long-term stability of state finances.” (03/11/26)