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Russian PM signs decree on submitting 2022-2024 draft budget to State Duma, says cabinet

Federal budget revenues are also expected to be higher than expenditures in 2023 — by up to $5.97 bln

Russian Prime Minister Mikhail Mishustin Alexander Astafyev/POOL/TASS

Russian Prime Minister Mikhail Mishustin

© Alexander Astafyev/POOL/TASS

MOSCOW, September 30. /TASS/. Russian Prime Minister Mikhail Mishustin has signed a decree on submitting the draft of the federal budget for 2022 and the planned period of 2023-2024 to the State Duma (lower house), the cabinet announced on its official Telegram channel on Thursday.

"The budget is going to the State Duma. The government will submit the draft of the budget for the coming three years to the State Duma today. The relevant decree was signed by Mikhail Mishustin yesterday," the statement said.

When the budget was drafted last year, it was expected to be a deficit in 2022-2023. However, according to the current draft, federal budget revenues will exceed expenditures in the coming two years.

Federal budget revenues are projected at 25.021 trillion rubles ($344 bln), expenditures — at 23.61 trillion rubles ($324.66 bln), while the federal budget surplus — at 1.411 trillion rubles ($19.4 bln), or 1.1% of GDP, in 2022. Federal budget revenues are also expected to be higher than expenditures in 2023 — by up to 434.7 bln rubles ($5.97 bln), or 0.3% of GDP. Whereas in 2024 deficit is projected at 315.3 bln rubles ($4.3 bln).

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