The Federation Council approved the federal budget for 2023-2025
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The Federation Council approved the law on the federal budget for 2023 and for the planning period 2024-2025, transmits TASS.
According to the document, budget revenues in 2023 will amount to 26.1 trillion rubles. (of which 8.9 trillion are oil and gas), in 2024 – 27.2 trillion rubles. (8.7 trillion), in 2025 – about 28 trillion rubles. (8.5 trillion). At the same time, the approved budget implies spending in 2023 in the amount of 29 trillion rubles, in 2024 – 29.4 trillion rubles, in 2025 – 29.2 trillion rubles.
The federal budget deficit is expected to decrease over the next three years. 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%). State borrowings are the main source of covering the budget deficit, follows from the law.
November 24 federal budget for the next three years approved State Duma. The lower house 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 is also expected ruble to 72.2 rub. 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.” He noted that a third of the budget for 2023 will be directed to the fulfillment of social obligations to citizens, including military personnel and their families.
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