Moscow City Duma Approves 2026–2028 Budget With Managed Deficit Path

Overview

• The budget passed 42–0 with 2 abstentions at an extraordinary session and was adopted in full without amendments.
• City finances project revenues of about 5.94T, 6.37T and 6.87T rubles and spending of roughly 6.39T, 6.74T and 7.06T in 2026–2028, with the deficit narrowing from ~448B to ~194.5B rubles.
• The financing program permits up to 205B rubles in internal borrowing annually to partially cover planned gaps.
• Over 90% of expenditures are programmatic, with 47% designated as development spending.
• Priority allocations include 815B rubles for education and 615B for healthcare in 2026 (over 1T including OMS), dedicated support for participants of the special military operation and their families, and about 86B in 2026 non‑tax income from fines under the new 25/75 federal‑city split.