On September 24, 2026, Reuters reported from Moscow that the Russian government had reviewed a draft budget for 2027-2029 and proposed a range of tax increases to sustain military expenditure. The report, based on finance ministry materials, said the government projected a budget deficit equal to around 2% of GDP for the period and that the draft budget must go to parliament before October 1, with defence and security described as a strategic priority. The proposed tax changes include increases on excess profits in the metals and fertilizer sectors, taxes on trans-border electronic trade, and higher tax rates on passive personal income from investment in securities, property sales and bank deposits. Reuters said the passive-income measure would affect about 4 million people. Reuters also reported revised 2026 economic forecasts, including higher inflation after drone attacks on refineries caused fuel shortages and price spikes. Source: Reuters, by Darya Korsunskaya, published 2026-09-24: https://www.globalbankingandfinance.com/russia-plans-array-tax-hikes-2027-29-fund-military-spending/