MOSCOW, October 21. /TASS/. The Russian State Duma’s committee on budget and taxes has recommended that the lower house of the parliament approve the draft federal budget for 2025 and the 2026-2027 planning period in the first reading. It is planned that the State Duma will consider the draft budget at a meeting on October 24.

Federal budget revenues in nominal terms are projected to rise from 36.1 trillion rubles in 2024 to 40.29 trillion rubles ($430 bln) in 2025, up by 11.6% in annual terms, with moderate growth of federal budget revenues persisting in the years following. Federal budget revenues are expected to increase from 39.4 trillion rubles in 2024 to 41.46 trillion rubles ($445 bln) in 2025, 44 trillion rubles in 2026, and 45.9 trillion rubles in 2027.

The share of oil and gas revenues in total federal budget revenues is expected to fall from 31.3% in 2024 to 22.6% in 2027, while the share of non-oil and gas revenues of the federal budget will go up from 68.7% in 2024 to 77.4% in 2027.

The three-year federal budget is expected to be executed with a deficit of around half a percent of GDP in 2025, 0.9% of GDP in 2026, and 1.1% of GDP in 2027. During this period non-oil and gas deficit will go down to 5% of GDP in 2027 (by 2.5 percentage points compared to 2024).