additional budget expenditures for 2024 will be financed without using the National Welfare Fund – Kommersant
The government intends to exercise the right to expand budget expenditures this year by 1.5 trillion rubles. They plan to finance additional expenses from budget balances, without attracting funds from the National Welfare Fund (NWF), said Deputy Head of the Ministry of Finance Vladimir Kolychev.
“These 1.5 trillion (expenses.— "Ъ") we are not going to finance it through additional borrowings. The bill, in fact, does not provide for the expansion of borrowing. We do not have the authority to expand borrowing... We will finance from the accumulated ruble balances of the federal budget,” explained Mr. Kolychev (quoted from RIA Novosti).
According to the deputy minister, there are enough accumulated balances and “there will still be some left.” He clarified that the government has the right to increase expenses in response to the growth of non-oil and gas revenues without amendments to legislation. “To do this, it is enough to increase the forecast of non-oil and gas revenues, and it will replenish the government’s reserve fund, and there is no need to contact the State Duma,” added Vladimir Kolychev.
On September 30, the government submitted to the State Duma a budget package that included a draft federal budget for 2025–2027 and the “Main Directions of Tax and Budget Policy” for a three-year period. This year's budget deficit in the new project is estimated at 3.3 trillion rubles, or 1.7% of GDP, and in the current budget law - at 2.1 trillion rubles, or 1.1% of GDP.
Details - in the publication "Kommersant" "The budget is getting stronger".
