MOSCOW, October 24. /TASS/. Russia’s federal budget was drafted on the basis of the average key rate of the Bank of Russia of 15.1%, with the 14-16% range, Finance Minister Anton Siluanov said at a plenary session of the State Duma (lower house of the parliament) on the draft federal budget for 2025-2027.

"Returning to the issue of the cost of floatation and the cost of raising, the average rate of the Bank of Russia considered in estimate of the federal budget in revenues and expenditures was 15.1%. The range that the Central Bank gave initially, was 14-16%," he said.

In September, the regulator raised the key rate from 18% to 19% per annum.

The Central Bank Governor said in late September that the regulator did not rule out a further increase of the key rate in October.