The budget deficit for 2024-2026 will be less than 1% of GDP - Kommersant

Finance Minister Anton Siluanov, speaking at the Federation Council, said that the Russian federal budget deficit for the period from 2024 to 2026 will not exceed 1% of GDP. He previously said that in 2023 the budget deficit will slightly exceed 1% of GDP.

“If the price situation continues as it is today, then the National Welfare Fund will be replenished and we will have a sustainable budget deficit within 1% of GDP. If the situation changes, we will adjust our assessment forecasts,” the minister said (quoted by TASS).

According to project federal budget, in 2024 revenues will increase by 22.3% - from 28.67 trillion to 35.06 trillion rubles. At the same time, expenses will increase by 15.8%, which will exceed revenues by 1.6 trillion rubles. In 2025, the deficit is projected at 0.83 trillion rubles, in 2026 - 1.54 trillion rubles. Last year, the budget was executed with one of the record deficits in history - 3.3 trillion rubles. By the end of this year, the deficit could amount to another 3 trillion rubles.

The news is being updated.