President Vladimir Putin signed the law on the federal budget for 2025 and the planning period 2026-2027.
Thus, budget revenues next year are expected to amount to 40.296 trillion rubles, and in 2026 to 41.84 trillion rubles. and in 2027, 43,154 trillion rubles.
Expenses next year will amount to 41,469 trillion rubles, in 2026 to 44,022 trillion rubles, and in 2027 to 45,915 trillion rubles.
Thus, it is expected that the budget deficit will be 1,173 trillion rubles in 2025, 2,181 trillion rubles in 2026 and 2,761 trillion rubles in 2027.
GDP growth is expected to be 2.5% next year, 2.6% in 2026 and 2.8% in 2027, and inflation is expected to be 4.5% in 2025 and 4 % each in the next two years.
For social policy, 6.9 trillion rubles will be allocated in 2025 and 21.3 trillion rubles over three years. The funds will be used to index pensions and social benefits, as well as to support participants in the military operation in Ukraine and families with children. National projects will receive 6.1 trillion rubles from the budget over three years. An important part of the amendments is aimed at ensuring the country’s defense security, including the conduct of a special military operation, the Ministry of Finance reported.
Finance minister Anton Siluanov He described the budget as “structurally balanced.” “This allows us to have small budget deficits: in 2025, 0.5% of GDP; in the following years, in 2026 and 2027, with a slight increase. In general, the deficit will be around 1% (GDP), which has no impact on macroeconomic stability,” he stated.
The minister also highlighted that Russia is reducing its dependence on oil and gas.
“And the non-oil and gas deficit (the deficit that excludes oil and gas revenues) is declining. Today it represents around 7.5% of GDP, next year this parameter will be 5.6% and at the end of the three-year period it will be 5%,” he noted.
According to him, these indicators occurred in 2018-2019, which gives reason to talk “about the sustainability of the budget, regardless of the external economic situation.”
The State Duma adopted the law on the three-year budget on November 21, the Federation Council approved it on November 27, RBC reminds.
