Oreshkin promised “positive surprise” with the draft budget for 2024–2026

The Government of the Russian Federation will consider the main parameters of the federal budget for 2024–2026. in a week, his numbers will be a “positive surprise.” About it stated Presidential Aide Maxim Oreshkin in an interview RBC.

“There will be an oil price significantly lower than what we currently see on the market, there will be a stronger ruble exchange rate than we currently see on the market, and all together this will give a very good result at the end,” he said.

September 11 Oreshkin statedthat by the end of 2023 the budget deficit will not exceed the forecast 2%, but already in 2024 a budget surplus is possible. According to him, the Cabinet of Ministers has done “very serious work on balancing the budget for the next three years.” The fiscal balance indicators will be better than expected, he added.

On September 8, Prime Minister Mikhail Mishustin at a meeting on the draft federal budget statedthat the federal budget deficit for January–August was below 1.5% of GDP for the year. At the end of August, the budget was executed with a surplus of 230 billion rubles. According to Mishustin, an increase in non-oil and gas revenues, which exceeded 1.82 trillion rubles, played a significant role. (+56.5% year on year). At the same time, oil and gas revenues have recovered, the prime minister noted.

Russian President Vladimir Putin previously said that the growth rate of the Russian economy this year has accelerated from month to month, so we can assume that in 2023 growth will completely cover last year’s decline. Back in December 2022, Deputy Prime Minister Andrei Belousov expected GDP decline in 2023 is within 1%, but already in April 2023, the Ministry of Economic Development predicted economic growth of 1.2%. In July Mishustin statedthat the country’s GDP could grow by more than 2% if “there are no force majeure circumstances.”