Russia is entering 2026 with a budget problem it can no longer quietly manage.After a sharply expanded deficit in 2025 and a new deficit already planned for 2026, the numbers are starting to speak louder than official narratives. In this Wednesday Russian Economic Review, I break down the last two weeks of economic data and explain where the ₽7 trillion budget gap is coming from, how it formed, why it matters now and how it will change Russia.This episode is structured in three layers:microeconomic agents → microeconomy → macroeconomy, so you can see how budget decisions translate into real economic stress on the ground.In this episode:Microeconomic agents: what businesses, households, and regional authorities are facing right nowMicroeconomy: key markets and industries (energy, banking, transport, real estate—where the stress is showing)Macroeconomy: budget, inflation, ruble dynamics, rates, reserves, and the real “health check” indicatorsIf you want a clear, structured snapshot of where Russia’s economy is heading—and what the gold story may be warning us about—this is the episode.I’m Konstantin, a Russian in exile and creator of Inside Russia. I talk to people inside the country every day, follow the numbers and the mood, study Russia under microscope and share my findings with the world. No hype — just facts. Sources: open public data and reporting (Russia Today, MinFin, CBR, Rosstat, business press). This video is commentary and analysis for information/education only and follows YouTube community guidelines.