The Russian budget will receive 850 billion rubles in 2024. one-time “other” income

The Russian authorities have planned a one-time receipt of “other non-tax” revenues to the state budget in the amount of 850 billion rubles. This amounts to 2.4% of total planned revenues, as noted in the materials for the draft federal budget for 2024 and the planning period of 2025 and 2026. According to RBCthe state budget will receive part of the balances from the account owned by the Federal Treasury for the Tula Region, which accumulates funds received from the Single Tax Payment.

Other non-tax revenues of the federal budget will include the remaining funds of the single tax payment, calculated using a special formula. “Part of the balance of the single tax payment, calculated as the balance of the single tax payment as of August 1, 2024, reduced by 300 billion rubles, is subject to reflection as part of other non-tax revenues of the federal budget,” says the draft state budget.

From the beginning of 2023, all tax payments go to a separate treasury account created after the introduction of the Single Tax Account, the publication writes. It is open to the Federal Treasury Department for the Tula Region.

According to government bill, federal budget expenditures next year are planned at 36.6 trillion rubles, in 2025 – 34.4 trillion, in 2026 – 35.6 trillion rubles. 10.8 trillion rubles will be allocated for defense in 2024.

The draft budget for 2024–2026 was approved by the government on September 22. Next year’s budget is drawn up with a deficit of 0.9% of GDP. Compared to the indicators of the current budget law for 2023–2025, revenues and expenses next year will increase significantly: the law assumed that revenues would amount to 27.2 trillion rubles, expenses – 29.4 trillion rubles.

Read more about the budget process in Russia in the Kommersant article “The budget has been called to the State Duma”.

Alexander Kislov