State Duma passes Russia's 2024-2026 federal budget

MOSCOW. Nov 17 (Interfax) - Russia's State Duma on Friday passed the draft federal budget for 2024 and 2025 and 2026 planning period at its third reading.

The government introduced the bill, No. 448554-8, to the lower house of parliament on September 29.

Revenues in 2024 will amount to 35.065 trillion rubles or 19.5% of GDP, in 2025 to 33.552 trillion rubles or 17.6% of GDP and in 2026 to 34.051 trillion rubles or 16.8% of GDP, including oil and gas revenues in 2024 - 1.821 trillion rubles or 1% of GDP, in 2025 - 1.836 trillion rubles or 1% of GDP and in 2026 - 1.845 trillion rubles or 0.9% of GDP.

Expenditures in 2024 are 36.661 trillion rubles or 20.4% of GDP, in 2025 - 34.383 trillion rubles or 18% of GDP and in 2026 - 35.587 trillion rubles or 17.6% of GDP.

The federal budget deficit in 2024 will be 1.595 trillion rubles or 0.9% of GDP, in 2025 - 830.5 billion rubles or 0.4% of GDP and in 2026 - 1.536 trillion rubles or 0.8% of GDP.

GDP in 2024 is 179.956 trillion rubles, up 2.3%, in 2025 - 190.637 trillion rubles, up 2.3% also and in 2026 - 202.304 trillion rubles, up 2.2%.

The domestic public debt as of January 1, 2025 is capped at 26.638 trillion rubles, as of January 1, 2026 at 30.159 trillion rubles and as of January 1, 2027 at 34.357 trillion rubles.

The external public debt ceiling as of January 1, 2025 is capped at $64 billion or 57.6 billion euros; as of January 1, 2026 at $63.1 billion or 56.3 billion euros and as of January 1, 2027 at $61.2 billion or 54.6 billion euros.

The inflation rate in 2024 is not forecast to exceed 4.5%; in 2025 - 4% and in 2026 - 4%.

The National Wealth Fund at the beginning of 2024 is forecast at 12.178 trillion rubles or 6.8% of GDP, at the beginning of 2025 - 11.192 trillion rubles or 5.9% of GDP and at the beginning of 2026 - 13.003 trillion rubles or 6.4% of GDP.