National Welfare Fund
The National Welfare Fund is a sovereign wealth fund of the Russian Federation, established in 2008 to support the national pension system and accumulate financial reserves. The fund is primarily financed by revenues from the oil and gas sector. It is managed by the Russian Ministry of Finance.
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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.