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Russia reduces budget dependence on oil and gas revenues — Finance Minister

Anton Siluanov also noted that the Russian authorities allocate resources to strengthen the country’s defense capability on a priority basis

MOSCOW, October 7. /TASS/. Russia is reducing its budget dependence on oil and gas revenues, Finance Minister Anton Siluanov said at a hearing in the Federation Council on the parameters of Russia’s draft federal budget for 2025 and for the planning period of 2026-2027.

"We are moving towards reducing the dependence of the federal budget on oil and gas revenues. Internal borrowing will be the source of financing," he said.

Siluanov also noted that the Russian authorities allocate resources to strengthen the country’s defense capability on a priority basis. "The priority is to strengthen the country's defense capability. We are allocating resources to this task on a priority basis," he said.

The Minister added that the money will be used to equip and purchase weapons, military equipment, pay military personnel and support their families, as well as upgrade the defense industry.

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