The government decided to fully cover the budget deficit in 2023 with the funds of the NWF

Russian Prime Minister Mikhail Mishustin announced that the draft budget for 2023-2025 had been prepared. The government will cover the budget deficit expected during this period with state loans, as well as with funds from the National Welfare Fund (NWF).

According to “RIA News” citing the document, 2.9 trillion rubles will be taken from the NWF in 2023, and 1.3 trillion in 2024. In 2024, the fund is planned to be replenished with a part of the oil and gas windfall for 2023.

Federal budget for 2023 laid out with a deficit of 2.9 trillion rubles, or 2% of GDP, for 2024 – with a deficit of 1.4% of GDP, for 2025 – 0.7% of GDP.

According to Mikhail Mishustin, the prepared draft budget provides for a balanced policy in order to fulfill the social obligations of the state. The document needs to be finalized, the prime minister noted, in particular, taking into account measures related to partial mobilization.

How informed Mishustin, next year revenues will amount to 26 trillion 130 billion rubles. At the same time, expenses will amount to 29 trillion 56 billion rubles. Earlier, the Prime Minister reported that the federal budget was drawn up with a deficit of 2.9 trillion rubles.

In April the government decidedthat additional oil and gas revenues will fall into the accounts of the National Welfare Fund until October 1, 2023 only after deducting the amount to replace government borrowings, repay government debt and for other purposes. How informed “Kommersant” On September 12, the government discussed the possibility of suspending the financing of the NWF with oil and gas windfalls, since in 2023 resources may be required to balance the budget.

More about the budget – in the material “Kommersant” “We walk on not the last”.

Lusine Balasyan