The Federation Council (upper house of parliament) approved the law on the country’s federal budget for the period 2023-2025, which provides for a phased reduction in the deficit from 2% to 0.7% of GDP.
A few days ago, the Russian parliament, the Duma, approved the country’s budget for the period 2023-2025.
According to the provisions of the new budget, next year revenues are expected at the level of 26.13 trillion rubles (17.4% of GDP), and expenditures – 29.056 trillion rubles (19.4% of GDP).
In relation to 2024, it is expected that revenues will be at the level of 27.24 trillion rubles with expenses of 29.43 trillion rubles, and in 2025 revenues will amount to 27.98 trillion rubles, and expenses – 29.24 trillion rubles. trillion rubles
Accordingly, Russia’s budget deficit in 2023 will be at the level of 2% of the GDP, in 2024 at the level of 1.4% of the country’s GDP, and in 2025 at the level of 0.7% of the country’s GDP. GDP.