M.Mishustin announced the key parameters of the budget for the new financial year

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AK&M 20 September 2022 16:13

Russian Prime Minister Mikhail Mishustin announced the key parameters of the budget for the new fiscal year. Thus, revenues are estimated at about 26 trillion rubles, expenses will amount to about 29 trillion rubles, the budget deficit is planned to be closed by borrowing. This was announced by the Cabinet of Ministers.

In 2023 and 2024, the Government will provide for a transition period when expenses will be higher – by 2.9 trillion rubles and 1.6 trillion rubles, respectively.

The budget deficit will thus gradually decrease from 2% of GDP in 2023 to 1.4% of GDP in 2024 and 0.7% of GDP in 2025.