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Russian government prioritizes stability in budget draft — expert

The government presented the document to the lower house of the Russian parliament on September 30

MOSCOW, September 30. /TASS/. The Russian federal budget draft for 2022-2024 is evidence that budgetary balance and stability are among the key priorities of the government, leading research fellow of the Center for Development Institute Andrei Chernyavsky told TASS on Thursday.

"The presented federal budget draft for the next three years evidences in broad terms that the budget balance and stability are among the top priorities of the government. A return to fiscal rules will make it possible to reduce borrowings on the domestic market and slow down the growth of interest expenses and state debt," the expert said.

The government presented the draft federal budget for the coming three years to the lower house of the Russian parliament on September 30.

"The budget relies on growth rates of 3.3% and the oil price of $45.3 a barrel. Actually, the average crude oil price will climb to $66 [a barrel] this year. Therefore, the actually expected GDP growth rate is 4.2%. Meanwhile, the IMF gives even higher forecasts for Russia. Such economic growth rates will make it possible to not only compensate last year's losses totaling 3% of GDP but also to notably exceed even the figure of 2019," he added.

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Russia's domestic policy

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