Russia to allocate 15% of GDP to debt interest over next decade (legrandcontinent.eu)

• Budget deficit Jan-May 2026: 6 trillion rubles (2.6% GDP)
• Debt service costs 2026: 4 trillion rubles (9% federal budget)
• Oil and gas revenues at lowest since 2023

"Russia's budget deficit reached 6 trillion rubles (2.6% of GDP) in the first five months of 2026. Defense spending may exceed the initial budget by 5 trillion rubles. Debt service costs have tripled since the war began. In 2026, Russia will spend nearly 4 trillion rubles on debt (9% of the federal budget), the fifth-largest expense. Despite a low debt-to-GDP ratio of 16%, high interest rates (central bank 14.25%, long-term bonds 15%) are concerning."