Z-Blogger: The War Is Devouring The Russian Federation's Budget

• 27.09.2026, 18:15

The financial shortfall grew by hundreds of billions in just a few days.

Russia's economy will soon be unable to support the Kremlin's military ambitions. The country is running out of steam economically. This was written by the well-known Russian Z-blogger Maksim Kalashnikov, as reported by Dialog.UA.

He pointed out that, according to official data, the Russian Federation’s state budget deficit has already surpassed the 7 trillion ruble mark, even though it was projected to be 3.8 billion. From September 18 to 21, in just four days, the financial shortfall increased by 421 billion rubles.

“Money, as Napoleon Bonaparte said, is the nerve of war… High oil prices aren’t helping… The situation is alarming. I think by the end of November, we’ll be facing a state of emergency with public finances. Of course, revenue from higher oil prices will provide some relief, but it won’t fix the situation. And then: either sell off gold, or convert private individuals’ bank deposits into bonds. Because turning on the printing press and using currency issuance to patch up the gap under the current economic system is a surefire way to trigger runaway inflation. This would accelerate the already evident decline in production in Russia and the rate at which revenue shortfalls are growing—a situation where tax hikes lead to a drop in tax collections. “The war is clearly running out of steam economically,” Kalashnikov stated.