Russia has approved the federal budget for 2026. Over the past two weeks, the document has passed both chambers of parliament and was signed by Russian President Vladimir Putin.

Axar.az reports, citing the Moscow Times.

According to the document, the Kremlin expects to receive 40.27 trillion rubles ($518.9 billion) in revenue next year, while spending will amount to 44.06 trillion rubles ($567.8 billion). The resulting deficit will amount to about 1.6% of the country's total GDP.

Russia plans to spend a record amount of money on the war with Ukraine. Almost 30% of the budget (12.93 trillion rubles or $166.8 billion) will be allocated to the army, including weapons purchases.

It is noted that this is the highest military spending since Soviet times.