Russian Duma adopts 2026-2028 federal budget

MOSCOW. Nov 20 (Interfax) - Russia's State Duma passed the 2026-2028 federal budget in its third reading in a meeting on Thursday.

The government submitted Bill No. 1026181-8 on the federal budget for 2026 and the planning period of 2027 and 2028 to parliament in September.

The main budget parameters for 2026 were calculated based on a GDP forecast of 235.067 trillion rubles and inflation of 4% or below. Federal budget revenues in 2026 will amount to 40.283 trillion rubles, expenditures will amount to 44.07 trillion rubles and the deficit will be 3.786 trillion rubles or 1.6% of GDP.

The main budget parameters for 2027 and 2028 were calculated based on a GDP forecast of 255.498 trillion rubles and 276.346 trillion rubles respectively, with annual inflation at 4% or below.

Revenues in 2027 are planned at 42.91 trillion rubles, expenditures will amount to 46.10 trillion rubles and the deficit will be 3.186 trillion rubles or 1.2% of GDP.

Revenues in 2028 are planned at 45.869 trillion rubles, expenditures will amount to 49.383 trillion rubles and the deficit will be 3.514 trillion rubles or 1.3% of GDP.

The upper limit of the domestic public debt ceiling has been set at 37.436 trillion rubles for January 1, 2027, at 42.185 trillion rubles for January 1, 2028 and 47.412 trillion rubles for January 1, 2029.

The upper limit of the external public debt ceiling has been set at $66.8 billion or 59.1 billion euros for January 1, 2027, at $63.9 billion or 57.6 billion euros for January 1, 2028 and $62.3 billion or 56.1 billion euros for January 1, 2029.

Additional oil and gas revenues are forecast at 342.1 billion rubles in 2027 and 782.6 billion rubles in 2028.

The National Wealth Fund (NWF) is forecast to have 13.637 billion rubles at the beginning of 2026, 13.660 billion rubles at the beginning of 2027 and 13.837 billion rubles at the beginning of 2028.

Public regulatory obligations - social welfare payments, benefits and pensions - will amount to 2.089 trillion rubles in 2026, 1.582 trillion rubles in 2027 and 1.653 trillion rubles in 2028.

In 2026, the general subsistence level across Russia has been set at 18,939 rubles, 20,644 rubles for the working population, 16,288 rubles for pensioners and 18,371 rubles for children.