The Ministry of Finance announced proposals to increase budget spending by 5 trillion rubles a year
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The Russian government received applications from ministries and departments to increase federal budget spending for 2023-2025. The applications received indicate the need for additional funding of about 5 trillion rubles. annually. This is reported on site Ministry of Finance.
Finance Minister Anton Siluanov clarified that meeting the budgetary needs involves the mobilization of revenue sources, as well as the use of funds from the National Welfare Fund (NWF) of Russia. The Cabinet of Ministers intends to take such measures for the “fast adaptation” of the economy and the restructuring of economic relations, which, according to Mr. Siluanov, were severed due to sanctions pressure.
In July, the volume of the NWF of Russia increased by 1.4 trillion rubles. (up to 12.15 trillion rubles). The amount of liquid assets in the fund increased to 8.664 trillion rubles.
State Duma approved the federal budget for 2022, as well as the draft budget for 2023-2024 in November last year. The federal law on the budget notes that its expenditures in 2022 will amount to 23.69 trillion rubles. (with income of 25.02 trillion rubles), in 2023 – 25.24 trillion (with income of 25.54 trillion rubles), and in 2024 – 26.35 trillion rubles. (with income of 25.83 trillion rubles).
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