Russia just rushed through a law to lift limits on borrowing and spending. Is the budget starting to crack? — Meduza
1 min readeurope
Russia just rushed through a law to lift limits on borrowing and spending. Is the budget starting to crack? — Meduza
Russia rushed through a Budget Code amendment giving the government leeway to exceed spending caps and borrow beyond the approved budget. Key points:
- The amendments allow: (1) higher federal spending without publicly disclosing allocations, (2) domestic borrowing beyond official debt ceilings, (3) regional cash injections with near-zero interest and extended write-offs, enabling more war-related spending.
- The bill was pushed quickly: submitted early in the week and passed
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