Tuesday, 02 January 2024 12:17 GMT

Zelensky: Russia's Budget Deficit Will Rise From $71B To $100B


(MENAFN- UkrinForm) The head of Ukrainian state said this during a press briefing, according to an Ukrinform correspondent.

“We believe that next year Russia will face a significant [budget] deficit-nearly $100 billion. We've seen documents-just a month ago, the figure was $71 billion, but it's clear their problems have grown. And if India truly starts buying fewer energy resources, I believe that will help,” Zelensky said.

He added that, according to unconfirmed intelligence, India has already started buying less energy from Russia.

Read also: Most of Russia 's territory faces fuel shortages – military expert

“Based on our data, India has started purchasing fewer energy resources. Although I can't say for certain-I've only heard this. Every week, I receive intelligence analytics, and I believe I'll be able to share more in about a month,” the President noted.

As previously reported by Ukrinform, Russia's draft federal budget for 2026–2028 outlines a reallocation of resources away from social and regional programs in favor of the military-industrial complex and security agencies. Intelligence sources indicate that the Russian government plans to raise the value-added tax rate from 20% to 22%. Finance Minister Anton Siluanov has already acknowledged that this move will lead to higher prices and increased pressure on businesses.

Starting next year, Russia will introduce a new tax regime for small and medium-sized enterprises. The annual income threshold for simplified taxation will be reduced sixfold-from approximately $723,000 to $120,000.

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