Budget Deficit

Breaking Geopolitics Macro

Russia’s Finance Ministry Warns Putin Military Spending Has Hit Sustainability Ceiling

Internal Kremlin division sharpens as defense outlays approach 40% of federal budget and officials project $36 billion shortfall, marking the most serious fiscal crisis since invasion began.

7 min read ·
Geopolitics Macro

Russia Burns Gold Reserves at Fastest Pace in Two Decades as War Budget Strains Mount

Moscow liquidated 27.9 tonnes in four months—eroding a strategic cushion built over 20 years as sanctions and military spending force hard asset depletion.

8 min read ·
Macro

Moscow’s Elite Pull Capital From Russia as Budget Crisis Deepens

Wealthy investors scaling back domestic investments amid fiscal strain exposes eroding confidence in Russia's economic sustainability beyond surface-level stability.

7 min read ·