Draft federal budget for 2023–2025 submitted to State Duma
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The Russian government has submitted to the State Duma a draft federal budget for 2023 and the planning period of 2024–2025. advising order signed by Russian Prime Minister Mikhail Mishustin. According to the project, in the next two years the country’s budget will be in deficit: in 2023 -2% of GDP, in 2024 and 2025 -1.4% and -0.7%, respectively. Government borrowing will be the main source of deficit coverage.
Federal budget expenditures next year are planned at the level of 29 trillion rubles, and revenues will amount to 26.13 trillion rubles. In 2024, expenses will amount to 29.43 trillion rubles, in 2025 – 29.24 trillion rubles. Budget revenues in 2024 – 29.43 trillion rubles, and in 2025 – 29.24 trillion rubles. It is noted that the transition to strong economic growth is planned in 2024 at a level above 2%.
The Russian government approved the draft federal budget for 2023–2025 on September 22. Mr. Mishustin said earlier that the federal budget for 2023 was drawn up with a deficit of 2.9 trillion rubles, or 2% of GDP. President Vladimir Putin declaredthat the deficit may be less than the level laid down in the project. According to him, by 2024 the figure should drop to 0.7% of GDP.
More about the budget – in the material “Kommersant” “Budget by deferred rules”.
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