Budget
ADVERTISEMENT
ADVERTISEMENT
Russia
Russia funnels nearly half its budget into war as social funds shrink
Russia’s 2027 draft budget allocates a record share to defence and security, as regions quietly divert funds for foster children and orphans to war payments and “coffin money” for soldiers’ families is cut by up to 95% in some areas.
Russia
Russia slashes cancer care as defence spending hits post-Soviet record
The federal cancer programme budget falls from 44.9 billion to 3.87 billion roubles in 2027 — a nearly 40-fold reduction against 2025 levels — as defence spending reaches 35% of all federal expenditure, the highest share since the Soviet Union collapsed.
Economy
EU debt could hit €1 trillion by 2027, auditors warn
EU auditors said 3.8% of the bloc's spending last year breached funding rules, warning that borrowing could hit €1 trillion by 2027 and that the next long-term budget risks repeating the flaws of the COVID-era recovery fund, as the Commission defended its controls.
ADVERTISEMENT
Economy
Qatar’s budget deficit more than doubles amid LNG disruption
The first-half shortfall has exceeded Qatar’s original full-year forecast. Doha has said cuts to operating spending exclude salaries and capital projects, while European gas buyers face delivery cancellations extending into early November as the Iran war postpones revenue.
Europe News
EU leaders hold talks on common budget in battle for cash
EU governments will hold substantial negotiations on how to allocate €2 trillion of the European common budget over the next seven years, pitting frugals calling for cuts against member states defending money for agriculture to be preserved in tough talks ahead.
Europe Today
Georgieva: Europeans must invest 'together'
European economic conditions "have worsened," International Monetary Fund Managing Director Kristalina Georgieva said, as the IMF is now "downgrading" its growth projections and "uplifting" its inflation forecasts. Georgieva recommends that the EU invest "together" and "wisely".
