St. Petersburg Budget Revenues Rise 22 Percent in First Eight Months of 2026

Tax revenues in St. Petersburg rose by 22% during the first eight months of 2026, with total receipts into the budgetary system reaching 2.9 trillion rubles, up from 1.2 trillion rubles during the same period the previous year. The sharpest growth was observed in federal budget revenues, which increased by 42% to 1.144 trillion rubles. This surge in federal revenue is linked to a revision of Value Added Tax (VAT) collection rules. Specifically, the increase was driven by higher tax rates and a reduction in the revenue threshold for VAT exemption-lowered from 60 million to 20 million rubles per year. City Budget Composition The city's consolidated budget received 880 billion rubles, a 9% increase over the previous year. This total was primarily driven by personal income tax and corporate profit tax receipts.