National Wealth Fund
The National Wealth Fund of Russia is a sovereign reserve fund established in 2008 as part of the country's reserve asset system alongside the Reserve Fund. It is financed primarily by oil and gas revenues from the federal budget and is used to cover budget deficits and support the Russian economy. The fund is managed by the Russian Ministry of Finance, with the Central Bank of Russia handling the placement of its assets.
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Russia plans record $202 billion defense budget for 2027, financed by tax hikes and borrowing
Russia is planning to raise its defense spending in 2027 by about 27%, to roughly $202.4 billion (17.1 trillion rubles) — the largest figure since the start of the full-scale invasion of Ukraine in 2022. The increase, part of a draft budget the government must submit to parliament by October 1, is to be financed through new taxes on citizens and resource companies, drawdowns from the National Wealth Fund, and sharply higher borrowing. The planned expansion comes as Ukraine struggles with its own tight budget and warnings from Kyiv that the army is short billions for defense.