Moscow City Duma Approves 2026–2028 Budget With Lower Deficits and Low Debt Load

Overview

• The Duma passed the three‑year budget at an extraordinary session in full and without amendments after oversight bodies reported no violations.
• Revenues and spending are set at 5.94 and 6.39 trillion rubles in 2026, 6.37 and 6.74 trillion in 2027, and 6.87 and 7.06 trillion in 2028.
• The deficit is planned to shrink from about 447.6 billion rubles in 2026 to 372.6 billion in 2027 and 194.5 billion in 2028, with borrowing of up to 205 billion rubles each year.
• Moscow’s state debt stands around 183 billion rubles with a debt burden near 3.3% of revenues, and the repayment profile is structured to avoid peak loads.
• Spending remains program‑based with more than half for social priorities, a development share near 47%, and about 86 billion rubles in 2026 expected from fines of which 75% accrues to the city.