The Government of the Russian Federation has approved a budget forecast until 2042, providing for its extension for another six-year period. The corresponding order was signed by Prime Minister Mikhail Mishustin, according to the Cabinet's website.
The budget forecast is presented on the basis of two variants of the forecast of socio-economic development for a long–term period - basic and conservative.
The basic scenario of the budget forecast provides for the growth of federal budget revenues in real terms from 2026 by an average of 2.1% per year. According to the baseline forecast, federal budget expenditures may increase in real terms by more than 2 times by 2042 compared to the level of 2019.
The parameters of the budget forecast are taken into account when forming the budget for the next financial year and the planning period and in long-term planning. A budget forecast is developed every 6 years for 12 years or more based on a long-term forecast of the socio-economic development of the Russian Federation.
