Tatarstan budget receives 440 bn rb in revenue, but profit tax falls due to oil price drop

GRP expected to grow by 102.4% by year-end

Tatarstan’s gross regional product (GRP) over the first eight months of this year reached almost 3.7 trillion rubles. In comparable prices, this represents 102.7% of the level from January–August last year, reported the republic’s Prime Minister, Alexey Pesoshin. The industrial production index stood at 110.7%.

As added by Tatarstan’s Minister of Economy, Midhat Shagiakhmetov, the republic’s economy is growing thanks to manufacturing industries such as petrochemicals, oil refining, and mechanical engineering (primarily the defence sector). In addition, increases in agricultural output, moderate consumer activity amid reduced consumer lending, and a savings-oriented behaviour of the population played a role. Contributions also came from small and medium-sized enterprises (SMEs).

“Taking into account enterprise development forecasts, ongoing projects, increases in industrial production, growth in agriculture, and the maintenance of positive consumer market trends, GRP growth for 2025 is estimated at 102.4%. Gross regional product in 2026 is forecast at 102.1%,” said Midhat Shagiakhmetov.

In 2026, the industrial production index in the republic is expected to reach 101.7% (this year it is forecast at 109%), the volume of construction works 100.8–101.5%, agricultural output 101.5%, and retail turnover 102.8–103.1%. Real wages of Tatarstan residents are expected to grow by 2.8% in 2026.

Profit tax revenues fall due to oil price decline

Over the first eight months of this year, the consolidated budget of Tatarstan received revenues totaling 440 billion rubles, including 380 billion in tax and non-tax revenues. The total revenue for 2026 is expected to reach 604.8 billion rubles, reported the republic’s Minister of Finance, Marat Fayzrakhmanov. The forecast for 2027 is 644.2 billion rubles, and for 2028 — 687 billion.

“I would like to draw your attention to the fact that, despite the overall positive revenue dynamics, profit tax revenues have fallen by 5.3 billion rubles compared with the same period last year. This is primarily due to lower receipts from the oil sector, mainly because of falling oil prices and the dollar exchange rate. To ensure the budget is executed effectively by the end of this year, we need to mobilise revenues within the planned parameters together with municipal authorities. In addition, due to the significant volume of tax arrears, work to reduce them must continue,” said Marat Fayzrakhmanov.

Regarding the total expenditure of the republic’s consolidated budget, the forecast for 2026 is 618.2 billion rubles, for 2027 — 659.6 billion, and for 2028 — 705.7 billion. The largest amounts are planned for sectors such as “National Economy” (156.6 billion rubles in 2026), “Education” (191.5 billion rubles), and “Healthcare” (159.1 billion rubles).

The consolidated budget deficit is projected as follows:

• 2026 — 13.4 billion rubles;
• 2027 — 15.4 billion rubles;
• 2028 — 18.7 billion rubles.

Territorial OMS Fund plans to receive 100.1 billion rubles

According to the director of the Territorial OMS Fund, Alsu Miftakhova, its revenues from January to August amounted to 62.6 billion rubles, while expenditures totalled 58.3 billion.

“Overall, the fund’s budget execution for the year is forecast at 93.2 billion rubles for revenues and 95 billion rubles for expenditures. <...> In 2026, the fund’s budget revenues are projected at 100.1 billion rubles, an increase of 6.9 billion compared with this year,” she added.

Summing up the meeting, Tatarstan head Rustam Minnikhanov urged municipalities to adhere to the parameters agreed with the Ministry of Finance.

“All spending powers must be backed by real revenues. Of course, the municipal budget must be adopted without a deficit. If there are additional revenues, those are your funds, and they will be considered separately,” the head of the republic emphasised.