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Russian State Duma passes draft federal budget for 2024-2026 in second reading

According to the document, federal budget revenues are forecast in the amount of $373.73 bln in 2024

MOSCOW, October 26. /TASS/. The State Duma, the lower house of the Russian legislative assembly, has passed in the second reading the draft federal budget for 2024-2026.

920 amendments were received by the second reading of the draft budget, with four of them revoked by originators. Overall, nearly seven trillion rubles ($78 bln) were reallocated for three years.

According to the document, federal budget revenues are forecast in the amount of 35.065 trillion rubles ($373.73 bln) in 2024, 33.552 trillion rubles ($357.7 bln) in 2025, and 34.051 trillion rubles ($363 bln) in 2026.

Expenditures are expected to amount to 36.66 trillion rubles ($390.9 bln), 34.382 trillion rubles ($366.5 bln), and 35.587 trillion rubles ($379.3 bln) respectively.

The federal budget deficit will total 1.595 trillion rubles ($17 bln) in 2024, 0.83 trillion rubles ($8.9 bln) in 2025, and 1.536 trillion rubles ($16.4 bln) in 2026.

The GDP is expected to amount to 179.956 trillion rubles ($2 trillion) in 2024, 190.637 trillion rubles ($2.12 trillion in 2025), and 202.304 trillion rubles ($2.25 trillion) in 2026.

The upper limit of the sovereign international debt will amount to $64 bln as of January 01, 2025, $63.1 bln as of January 01, 2026, and $61.2 bln as of January 01, 2027.

The inflation level is projected as 4.5% in 2024 and 4% in each of 2025 and 2026.

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