Long-Term Savings Program
Background
In January 2026, Russia’s Long-Term Savings Program was being signed up to by participants as a state-supported voluntary savings scheme. The program involved individual savers and the financial institutions administering the contracts, with about 500,000 contracts signed during that month. It was presented in the context of broader efforts by Russian economic officials to expand domestic sources of investment capital.
The program offered co-financing contributions and tax incentives, making it one of the state instruments intended to encourage household savings and channel funds into the Russian financial market. It mattered because Russian officials had been seeking to strengthen domestic financing mechanisms and reduce reliance on debt-based funding. In that context, the program was linked to efforts to develop Russia’s stock market and improve the long-term availability of investment resources.
The Long-Term Savings Program remained significant as part of Russia’s broader policy approach to financial market development and economic sovereignty. Its design reflected an attempt to mobilize private savings for investment purposes through government support rather than direct budget spending. By early 2026, the large number of signed contracts indicated that it had become a notable component of the country’s savings and capital-market policy framework.
Timeline
The long-term savings program was identified by Anton Siluanov as one of the main sources of funding for the domestic financial market.
Anton Siluanov: Financial Sovereignty and Economic Development Are Impossible Without a Well-Developed Financial Market
Documents
Anton Siluanov: Financial Sovereignty and Economic Development Are Impossible Without a Well-Developed Financial Market
Finance Minister Siluanov called for developing Russia's domestic financial market as a key funding source, urging state companies to pursue IPOs and SPOs to reduce reliance on debt financing.