June 10, 2026
Russia's Finance Ministry does not consider the country's widening budget deficit a crisis despite the shortfall surpassing 6 trillion rubles ($83.5 billion) in the first five months of the year, Deputy Finance Minister Irina Okladnikova said Wednesday.
"We do not believe we have a budget crisis," Okladnikova told lawmakers in the State Duma, according to Interfax. "The budget is being executed according to schedule."
Her comments come as Russia grapples with weaker oil and gas revenues and rising government spending, largely linked to its wartime economy. The growing deficit has fueled concerns about the sustainability of state finances after the government missed its budget targets by a wide margin last year.
According to Finance Ministry data, federal budget revenues totaled 14.781 trillion rubles ($205.5 billion) in January-May, while spending reached 20.791 trillion rubles ($289.0 billion), resulting in a deficit of 6.01 trillion rubles ($83.5 billion).
