Russia expects businesses to provide 471.7 billion rubles ($5.7 billion) in voluntary contributions this year as the government faces a growing budget deficit amid record war-related spending.
According to documents accompanying the government’s three-year budget bill, the Finance Ministry has not identified the companies or individuals making the payments or disclosed individual contribution amounts.
The contributions have increased amid widespread nationalizations involving hundreds of companies valued at more than 7 trillion rubles ($84 billion). Some former owners have also faced criminal investigations after losing their assets.
Business contributions reportedly accelerated following President Vladimir Putin’s March meeting with major business leaders. Putin urged wealthy entrepreneurs to support the state’s financial needs.
At the time, Russia’s federal budget deficit had reached nearly 6 trillion rubles ($72 billion), exceeding the government’s initial annual target of 3.7 trillion rubles ($44.4 billion). The Finance Ministry now forecasts the deficit will reach 7.3 trillion rubles ($87.6 billion) by the end of 2026.
Contributions from nongovernmental organizations increased from 15.6 billion rubles before the March meeting to 159.7 billion rubles the following month. By mid-August, the figure had climbed to 383.7 billion rubles.
The government also plans additional taxes worth 3.7 trillion rubles between 2027 and 2029.
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