Russia's economy runs fifth straight budget deficit amid sanctions and Ukraine war - Cryptopolitan
www.cryptopolitan.com
Russia is heading into its fifth straight year of running a budget deficit, as war spending and weak revenue continue to slam its finances.

cross-posted from: https://scribe.disroot.org/post/4740484

Archived version

  • Russia will run a 4.6 trillion ruble budget deficit in 2026, its fifth in a row, due to falling revenue and war spending.
  • The VAT rate will rise to 22% next year, and more companies will be forced to pay it to boost revenue.
  • Russia plans to borrow 2.2 trillion rubles and scrap tax breaks for small businesses to cover the widening gap.
  • MeldrikAEnglish
    2·
    10 months ago

    Wow! I thought Denmark’s 25% was high… 🫡

    • Rednax@lemmy.worldEnglish
      4·
      10 months ago

      Hungary has a very low income tax. Hence the high VAT. Denmark has both high VAT and income tax.