Gold, once untouchable, becomes Russia’s financial lifeline
Central bank reverses decades of stockpiling to plug $48 billion hole.
Browsing Tag
budget deficit
8 posts
Putin’s budget exposes who pays for Russia’s war economy
Kremlin staff get $18M in raises while World Bank predicts Soviet-style economic stagnation.
Russia raises taxes as $59.7B deficit grows
Russians face a VAT increase while Putin dismisses the 5 trillion ruble budget hole, breaking the promise of no tax rises until 2030.
Ukraine asks West to fund half its government as defense spending hits record 27% of GDP
$10 billion gap tests whether Western taxpayers can sustain Ukraine’s unprecedented military mobilization through 2026.
IMF finds Ukraine needs $20bn more than estimated as US support dwindles
Ukraine’s funding needs through 2027 may be $20 billion higher than Kyiv estimates.
Ukraine faces $7 billion defense crisis despite aid surplus
Billions in civilian aid sit unused while Ukrainian army faces funding crisis.
Frontline report: Russia faces oil price collapse as OPEC+ hikes production again
With Urals crude at its lowest since 2023, Moscow’s budget faces major damage.
ISW: Russian economy shows distress signs despite Kremlin’s strong-year-for-economy claims
As the war against Ukraine strains Russia’s economy, the Kremlin launches a campaign to project false stability despite mounting fiscal challenges.