Russia's Federal Budget Deficit In 2024-2026 Not To Exceed 1% Of GDP - Finance Minister
Date
11/20/2023 3:11:56 PM
(MENAFN- AzerNews) Russia's federal budget deficit will not exceed 1% of GDP in
2024-2026, Finance Minister Anton Siluanov said, Azernews reports, citing TASS.
"With the current price situation maintained, the National
Wealth Fund will be replenished and we will stably face budget
deficit within 1% [of GDP]. If the situation changes we will adjust
our projections as well," he said addressing the Federation Council
(upper house of the parliament).
"Amid the challenging environment the budget was drawn up
considering reaching top targets, on the one hand, and on the other
hand, the budget ensures the tasks of macroeconomic stability and
sustainability," the minister added.
The State Duma, the lower house of parliament, adopted earlier
the law on Russia's federal budget for 2024-2026 in the third and
final reading. According to the document, federal budget revenues
are projected at 35.065 trillion rubles ($393 bln) in 2024, 33.552
trillion rubles ($376 bln) in 2025, and 34.051 trillion rubles
($382) in 2026. Expenses are expected to be 36.66 trillion rubles
($411 bln), 34.382 trillion rubles ($386 bln), and 35.587 trillion
rubles ($399 bln), respectively. The federal budget deficit will
amount to 1.595 trillion rubles ($17.9 bln) in 2024, 0.83 trillion
rubles ($9.3 bln). in 2025 and 1.536 trillion rubles ($17.2 bln) in
2026.
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