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Russian government wins right to change debt, spending plans with no public hearings

  • Parliament approved a law letting the government quickly raise spending and debt without lengthy budget amendments — a move that speeds decisions but reduces transparency.
  • Russia ran a bigger-than-planned budget deficit (2.6% of GDP YTD), driven largely by higher military spending and a VAT increase to cover costs.
  • Higher commodity prices after the Middle East conflict have given the government temporary breathing room and postponed planned spending cuts.
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