The Cabinet of Ministers submitted to the State Duma a draft federal budget for 2023-2025

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AK&M 28 September 2022 14:17

The Government of the Russian Federation has submitted to the lower house of Parliament a draft federal budget for 2023-2025 and for the planning period of 2024 and 2025. This is reported by the press service of the Cabinet of Ministers.

The draft budget is compiled on the basis of the basic version of the forecast of socio-economic development. It implies a transition to a steady economic growth in 2024 at a level above 2%.

In 2023, revenues will amount to 2613 trillion rubles, in 2024 – 27.24 trillion rubles, in 2025 – 27.98 trillion rubles. Expenses in 2023 will reach 29 trillion rubles, in 2024 – 29.43 trillion rubles, in 2025 – 29.24 trillion rubles. Of these, it is proposed to allocate 20.64 trillion rubles for the implementation of state programs in 2023, 20.86 trillion rubles in 2024, and 20.29 trillion rubles in 2025.

According to the draft budget, the budget will be in deficit in the next two years (-2% of GDP in 2023, -1.4% in 2024 and -0.7% in 2025). The main source of its coverage will be government borrowing.