Russian State Duma Approves Budget for 2023-2025 With Gradual Decrease in Deficit
MOSCOW (Pakistan Point News / Sputnik - 24th November, 2022) The Russian State Duma adopted the law "On the Federal budget for 2023 and the planning period 2024-2025", which provides for a gradual reduction in the budget deficit from 2% to 0.7% of GDP over this period.
The revenues for 2023 are seen at 26.13 trillion rubles (17.4% of GDP), expenditures will be 29.
056 trillion rubles (19.4% of GDP). At the same time, revenues will amount to 27.24 trillion rubles in 2024 budget, and 27.98 trillion rubles in 2025, while expenses will be 29.43 trillion and 29.24 trillion rubles, respectively.
During the entire three-year period, the budget will be in deficit: in 2023, the deficit will be 2% of GDP, 1.4% of GDP in 2024, 0.7% of GDP in 2025.