Putin approved the federal budget for 2023-2025
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Russian President Vladimir Putin signed the law on the federal budget for 2023-2025. Document published on the portal of legal information.
“Approve the main characteristics of the federal budget for 2023, determined on the basis of the projected volume of gross domestic product in the amount of 149,949 billion rubles. and an inflation rate not exceeding 5.5% (December 2023 to December 2022),” the decree says.
According to the law, in 2023 budget revenues will amount to 26.1 trillion rubles, and expenses – 29 trillion rubles. In 2024 and 2025, revenues are expected at the level of 27.2 trillion rubles. and 27.9 trillion rubles, and the costs will amount to 29.4 trillion rubles. and 29.2 trillion rubles.
So, all three years the budget will be in deficit, while the deficit will gradually decrease. In 2023, it will amount to 2.9 trillion rubles. (2% of GDP), in 2024 – 2.2 trillion rubles. (1.4%), in 2025 – 1.3 trillion rubles. (0.7%). It is planned to cover the deficit through government borrowing, follows from the document.
Earlier, Senator Anatoly Artamonov noted that the approved budget is aimed at restructuring the economy and increasing the technological independence of Russia. “The budget, although formed with a deficit, nevertheless ensures the fulfillment of all social obligations of the state,” — added he.
November 24 federal budget for the next three years approved State Duma. The lower chamber explained that when drawing up the budget, they were guided by forecasts of the socio-economic development of the Russian Federation in 2023-2025, according to which the price of Urals oil is expected to decrease from $80 per barrel in 2022 to $65 in 2025.
A moderate weakening of the ruble to 72.2 rubles is also expected. per dollar and setting inflation at 4% by the end of 2024 (by the end of 2022, this figure is expected to be at the level of 12.4%). According to State Duma Speaker Vyacheslav Volodin, this budget is “the most difficult in recent years.” November 30 law on the federal budget accepted Council of the Federation.
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