Deputies adopted in the second reading an increase in budget spending for military needs
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The bill on the federal budget for 2024–2026 was approved on Wednesday by the State Duma in the second reading. Without changing the basic parameters of the state treasury, the lower house, by agreement with the government, distributed and redistributed almost 7 trillion rubles. expenses for the next three years – taking into account the authorities’ priorities updated as of mid-November, the new results of lobbying efforts of budget recipients and the socially oriented amendments of the parliamentarians themselves, which are understandable to the population.
In the first reading draft budget for 2024–2026 was approved by the State Duma on October 26. Let us remind you that the main financial plan for the next year differs from all previous ones in the sharp increase in both income (by 22% compared to expectations for 2023 – to 35.1 trillion rubles) and expenses (by 16% – to 36.7 trillion rubles). . After such a pumping of the economy with money, the Ministry of Finance for 2025, as part of the normalization of budget policy, envisages a reduction in both parts of the budget (see “Kommersant” dated September 30). The expenditure structure of the 2024 budget reflects new priorities: military appropriations will be increased by 1.7 times compared to this year and will reach 25% of all spending. The “National Economy” section containing state investments will suffer as a result, the funding of which will be slightly reduced. Servicing government debt next year will become noticeably more expensive.
The Accounts Chamber, which assessed the draft budget before its first reading, also noted a decrease in the share of allocations for transfers to the regions and calculated that in real terms (that is, taking into account inflation), budget expenditures on education in 2024 remain at the level of this year, on healthcare – insignificantly decrease, and increase for social policy (see “Kommersant” for October 17). The Ministry of Finance expects that all these changes, however, will not lead to an increase in the budget deficit, which next year is planned at an acceptable level of 0.9% of GDP (RUB 1.595 trillion).
During the second reading, the State Duma does not change the basic parameters of the budget, but by agreement with the government, it transfers and distributes previously reserved funds, taking into account updated priorities, new results of lobbying efforts of departments and amendments by parliamentarians themselves (mainly United Russia members).
In addition, during the second reading, transfers from the center to the regions are distributed – taking into account the more relevant understanding of the latter’s requests in mid-November.
In total, 920 amendments to the draft budget were received for the second reading (mostly government ones), 768 of them were accepted, 132 were rejected, and the rest were withdrawn. In total, 6.7 trillion rubles were redistributed over three years through amendments to the open and closed parts of the budget. As the head of the Duma Committee on Budget and Taxes Andrei Makarov explained, in the open part funds were found for new expenses in the amount of 3.3 trillion rubles.
Almost half of the distribution is the distribution of transfers to the regions (3.2 trillion rubles). This is 97% of all subsidies, subsidies, subventions and other interbudgetary transfers (the rest of the money will go to localities based on the results of competitive procedures).
Traditionally, the parliamentary majority during the second reading was able to add appropriations for areas understandable to voters.
For example, 6 billion rubles. will be spent on the purchase of medicines for patients with cardiovascular diseases, expenses on children’s recreation and health improvement will increase by 3 billion, 5 billion rubles. allocated 6 billion rubles to support the cosmonaut training center. Subsidies to manufacturers of agricultural machinery will increase annually, 15 billion rubles. will be used to support programs for the purchase of cars by the population. Development institutions have not been forgotten: by 1.5 billion rubles. funding for the research activities of the Skolkovo Foundation has been increased, 4.5 billion allocated in 2024 to the state corporation VEB.RF for priority investment projects in the Far East, 21.3 billion rubles. will be used to recapitalize the Industrial Development Fund.
The third and final reading of the draft budget is scheduled to be considered on November 17.
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