Group 1 - The 14th National People's Congress (NPC) will hold its fourth session on March 5, 2026, in Beijing [1] - The agenda includes reviewing the government work report and examining the draft outline of the 15th Five-Year Plan for national economic and social development [1] - The session will also review the execution of the 2025 national economic and social development plan and the draft for 2026 [1] Group 2 - The 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC) will hold its fourth session on March 4, 2026, in Beijing [2] - A preparatory meeting for the CPPCC session will take place on March 1-2, 2026 [2]

Core Points - The 14th National People's Congress (NPC) will hold its fourth session on March 5, 2026, in Beijing [1] - The agenda includes reviewing the government work report and examining the draft outline of the 15th Five-Year Plan for national economic and social development [1] - The session will also review the execution of the 2025 national economic and social development plan and the draft plan for 2026 [1] - Additional reviews will cover the execution of the 2025 central and local budgets and the draft budgets for 2026 [1] - The session will consider several legislative proposals, including the draft Ecological Environment Code, the draft Law on Promoting National Unity and Progress, and the draft National Development Planning Law [1] - Reports from the Standing Committee of the NPC, the Supreme People's Court, and the Supreme People's Procuratorate will also be reviewed [1]

Core Points - The Russian Ministry of Finance submitted a comprehensive budget draft to the government, focusing on defense, security, social welfare, and national projects [1][2] Group 1: Budget Overview - The budget draft includes amendments for 2025, federal budget laws for 2026, and plans for 2027 and 2028, along with proposed revisions to the Budget Code and Tax Code [1] - This marks the second budget adjustment of the year, following a previous amendment in June that increased spending and lowered revenue expectations [2] Group 2: Financial Allocations - For 2025, over 230 billion rubles will be allocated for preferential mortgage loans, and 18 billion rubles for road repairs [2] - Additional funding will be provided for disaster response, soil improvement, rural development, and support for small and medium enterprises [2] Group 3: Long-term Budget Plans - The budget for 2026 is projected at 44.1 trillion rubles, increasing to 49.4 trillion rubles by 2028, with revenues expected to rise from 40.3 trillion rubles to 45.9 trillion rubles [3] - The federal budget deficit is targeted to remain between 1.2% and 1.6% of GDP over the next three years [3] Group 4: Social Welfare Initiatives - Over 10 trillion rubles will be allocated for a "children's budget" over the next three years, with annual family subsidies for families with two or more children starting in 2026 [3] - The government plans to invest over 1 trillion rubles in healthcare and 900 billion rubles in a national project for longevity and active living [3] Group 5: Technological and Infrastructure Development - Approximately 1.9 trillion rubles will be allocated for national technology projects, focusing on machine tool manufacturing, unmanned aerial systems, and infrastructure updates [4] - The budget will also support defense needs and provide social support for families of military personnel [4] Group 6: Tax Revisions - Proposed tax law revisions include increasing the standard VAT rate from 20% to 22%, while maintaining a reduced rate for essential goods [4] - The VAT increase is expected to generate approximately 4.4 trillion rubles in additional revenue over three years, raising the share of non-oil and gas revenue to nearly 78% of total income [4] Group 7: Economic Outlook - The new budget is characterized as a "defense and security budget," a "social welfare budget," and a "development budget," aiming to create conditions for economic growth [5] - The Russian economy is projected to continue growing, albeit at a slower pace compared to previous years, with a focus on managing inflation and achieving balanced, sustainable growth [5]

Core Points - French Prime Minister Le Cornu resigned after less than a month in office, becoming the shortest-serving prime minister in the Fifth Republic, amid a political deadlock that pressures President Macron to dissolve the National Assembly or resign [1][2] - The 2026 national budget draft has sparked intense debate among parties, with Macron's government aiming to reduce the country's significant deficit, but facing opposition on sensitive issues like pension reform and tax policies [1][2] - Political allies of Macron are increasingly distancing themselves, with former allies publicly calling for Macron to appoint a new prime minister or resign, indicating a potential collapse of his centrist coalition [3] Summary by Sections Political Situation - Le Cornu is negotiating with various parties to form a "stability action plan" within 48 hours, with a report to Macron expected soon [1] - The political landscape has shifted since the 2024 elections, with Macron's centrist coalition losing its majority, allowing opposition parties to easily block proposals and potentially impeach the prime minister [1][2] Budget Draft Controversy - The budget draft for 2026 has led to strong disagreements among parties, particularly regarding pension reforms and tax policies, which are critical to addressing the national deficit [1][2] - If the budget draft fails to pass, it could lead to a "no-budget state," disrupting public services and causing market instability [1] Reactions from Political Allies - Former Prime Minister Édouard Philippe stated that it is Macron's responsibility to find a solution and suggested that he should appoint a new prime minister and consider early presidential elections [3] - There is a growing sentiment among Macron's allies to distance themselves from his administration, with some advocating for a leftist prime minister to be appointed [3] Future Options for Macron - Analysts suggest three potential paths for Macron: appointing a prime minister from outside his coalition, dissolving the assembly for new elections, or resigning, with the first two options being more likely [4] - A motion to impeach Macron was proposed by the opposition but was not accepted by the National Assembly's procedural committee [4]

Core Points - The European Commission's Executive Vice President, Minzatu, anticipates intense negotiations regarding the budget proposal [1] Group 1 - The expectation of vigorous discussions indicates potential shifts in budget allocations and priorities within the European Union [1]

Core Viewpoint - The European People's Party has stated that it cannot accept the current version of the budget draft [1] Group 1 - The European People's Party's rejection indicates significant political challenges in finalizing the budget [1]

Core Viewpoint - The White House has confirmed that President Trump is aware of Elon Musk's stance on the budget proposal [1] Group 1 - The article highlights the interaction between the U.S. government and prominent business figures, specifically mentioning Musk's influence on budget discussions [1]

Core Points - The White House Press Secretary Leavitt stated that President Trump is aware of Elon Musk's position regarding the budget proposal [1] Group 1 - The statement indicates a direct communication between the White House and influential figures in the tech industry, such as Elon Musk [1]

Core Viewpoint - The Hungarian Ministry of Economy plans to increase the buffer fund in the 2026 budget from 50 billion HUF to 192 billion HUF, with a budget draft to be submitted to parliament on May 6 [1] Group 1 - The buffer fund increase represents a significant rise of 284% from the previous amount [1]