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Cabinet approves draft budget for 2022-2024 — Cabinet’s telegram channel

The document will be submitted to the State Duma by October 1 as part of the budget package

House of the Russian Government Mikhail Tereshchenko/TASS

House of the Russian Government

© Mikhail Tereshchenko/TASS

MOSCOW, September 21. /TASS/. The Russian government approved the draft federal budget for 2022 and the planning period 2023-2024, the cabinet announced on its official Telegram channel on Tuesday.

"The draft federal law On the federal budget for 2022 and for the planning period of 2023 and 2024 has been approved at a government meeting and will be submitted to the State Duma by October 1 as part of the budget package," the statement says.

According to the documents prepared for the Cabinet meeting, in 2022 and 2023, the federal budget is expected to have a surplus of 1.411 trillion rubles ($15.2 bln) and 434.7 billion rubles ($5.9 bln) respectively. In 2024, the government expects a budget deficit of 315.3 billion rubles ($4.3 bln).

It is expected that federal budget revenues will grow in nominal terms to 25.2 trillion rubles ($341 bln) in 2022, 25.54 trillion rubles ($349 bln) in 2023 and 25.83 trillion rubles ($352 bln) in 2024.

Spending is planned at 23.61 trillion rubles ($322 bln) in 2022, 25.1 trillion rubles ($343 bln) in 2023 and 26.14 trillion rubles ($357 bln) in 2024.

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