Putin approved the federal budget for 2023-2025
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Russian President Vladimir Putin signed a law on the federal budget for 2023-2025 with a gradual reduction in the deficit from 2% to 0.7% of GDP. The document provides for Russian budget expenditures in 2023 at the level of 29 trillion rubles, in 2024 – 29.4 trillion rubles, and in 2025 – 29.2 trillion rubles.
Published on portal legal information, the federal law also sets the planned volume of budget revenues in 2023 at the level of 26.1 trillion rubles, in 2024 – 27.2 trillion rubles, and in 2025 – 27.9 trillion rubles.
The budget deficit, according to the document, will be 2% of GDP in 2023, 1.4% of GDP in 2024, and 0.7% of GDP in 2025. Government borrowings should become the main source of deficit coverage.
State Duma accepted law on the budget for 2023-2025 November 24. According to the speaker of the State Duma Vyacheslav Volodin, more than a third of budget expenditures in 2023 will be directed to the social security of citizens. The gap between budget revenues and spending next year will lead to a deficit of 2.9 trillion rubles. (about 2% of GDP).
Read more about the new budget – in the material “Kommersant” “Budget by deferred rules”.
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