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Siluanov’s Draft Budget Adds New War Taxes, 2027 Deficit

By Drooid · Sep 27, 2026, 6:08 PM UTC · How we work

Summary

Story summary

Finance Minister Anton Siluanov presented a draft budget that adds new war taxes on Thursday.
The draft shows a 2027 deficit of about 2 % of GDP, 5.8479 trillion roubles.
State revenues for 2027 are forecast at 43.3 trillion roubles, spending at 48.8 trillion.
Passive-income tax would rise to a 13 %-22 % scale, affecting about four million people.
A 22 % VAT on foreign e-commerce and a 100-rouble parcel fee for shipments under €200 are proposed.

History

Historical Context

In August 1998, Russia’s government under President Boris Yeltsin defaulted on $40 billion sovereign debt, triggering a 5 %-GDP budget deficit that shook the economy. The Ministry of Finance, led by Mikhail Kasyanov, imposed a 13 % tax on oil profits, raising state revenue by 12 % in the following year. Today Finance Minister Anton Siluanov proposes a 22 % VAT on foreign e-commerce and a 100-rouble parcel fee, echoing past tax hikes to fund war spending. If the 2027 deficit remains near 2 % of GDP, Russia may repeat 1998’s fiscal tightening, pressuring businesses and deepening reliance on state-controlled enterprises like Gazprom.

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Story summary

Finance Minister Anton Siluanov presented a draft budget that adds new war taxes on Thursday.
The draft shows a 2027 deficit of about 2 % of GDP, 5.8479 trillion roubles.
State revenues for 2027 are forecast at 43.3 trillion roubles, spending at 48.8 trillion.
Passive-income tax would rise to a 13 %-22 % scale, affecting about four million people.
A 22 % VAT on foreign e-commerce and a 100-rouble parcel fee for shipments under €200 are proposed.

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