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Federation Council approves bill on amendments to federal budget for 2025

According to the document, Russia’s budget revenues in 2025 will amount to $490 bln, or 17.4% of GDP

MOSCOW, June 18. /TASS/. The Russian Federation Council, the upper house of the parliament, has approved at the plenary session the bill on amendments to the federal budget indicators for 2025. The amendments concern only 2025, the indicators of the planning period of 2026-2027 do not change.

According to the document, Russia’s budget revenues in 2025 will amount to 38.5 trillion rubles ($490 bln), or 17.4% of GDP (in the previously adopted budget law revenues amounted to 40.296 trillion rubles, or $513 bln). Oil and gas revenues are planned at 8.317 trillion rubles ($106 bln), or 3.7% of GDP. Non-oil and gas revenues are expected to increase by 829.2 billion rubles ($10.5 bln), totally amounting to 30.188 trillion rubles ($384 bln), or 13.6% of GDP, mainly due to an increase in the receipt of individual taxes and non-tax payments.

Budget expenditures are projected at 42.298 trillion rubles ($538 bln). Budget deficit is expected at 3.8 trillion rubles ($48 bln), or 1.7% of GDP. The oil price forecast for 2025 has been lowered from $69.7 to $56 per barrel, while the dollar exchange rate outlook has been downgraded from 96.5 to 94.3 rubles. The inflation forecast is 7.6% (the approved one for 2025 is 4.5%).

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