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Russia’s Federal Budget Deficit Hits ₽1.718 Trillion (0.7% of GDP) in January 2026 — Ministry of Finance
The Russian Ministry of Finance has released preliminary data for the federal budget execution in January 2026. The budget deficit for the first month of the year stood at ₽1.718 trillion, representing approximately 0.7% of the projected annual GDP. Analysts at Mondiara note that while the front-loading of government spending at the beginning of the year is a recurring seasonal trend, the current figures reflect increased infrastructure investments and defense outlays. Market participants will closely monitor the deficit trajectory in the coming months, as it remains a primary driver for domestic liquidity and sovereign debt issuance (OFZ) strategies for the remainder of the fiscal year. Let’s Build the Future: 📩 Contact for Investors: i@mondiara.ru 🌐 Explore more: [mondiara.com](https://mondiara.com)