The Russian cabinet has presented to the State Duma a draft federal budget covering 2024 and the planning horizon for 2025 and 2026. This development is outlined in an official cabinet message.
For the first time, the bill was submitted entirely through an electronic channel, with the directive to submit coming from Prime Minister Mikhail Mishustin.
In describing the approach to the three-year financial plan, the administration emphasized that the process typically shifts from meeting social commitments to citizens toward addressing the priorities laid out by the president.
The draft budget bases its projections on the central variant of the socio-economic development forecast, signaling a path toward stronger growth with more than two percent expansion in 2024.
Under the plan, projected revenues total 35 trillion rubles for 2024, about 33.5 trillion for 2025, and around 34.1 trillion for 2026. Expenditures are anticipated at 36.6 trillion rubles in 2024, 34.4 trillion in 2025, and 35.6 trillion in 2026. The budget allocates 4.4 trillion rubles to universal family benefits for children, 482 billion rubles to enhance housing supply, and an additional 1.6 trillion rubles to maternity capital.
More than 1 trillion rubles are earmarked for drug supply initiatives, including 200 billion rubles dedicated to strengthening core health services, 430 billion rubles for cancer patient care, and 27 billion rubles for diabetes programs. Over 111 billion rubles are planned to create new school seats within three years, while more than 947 billion rubles are set aside to support civilian industry and over 67 billion rubles to assist small and medium-sized enterprises.
The budget deficit for 2024–2026 is not seen as a concern by officials. The plan anticipates that higher tax collections will push non-oil and gas revenues to be twice as large as oil and gas revenues in 2024. This assessment comes from a discussion with experts including a Master of Laws and Associate Professor at the Department of State and Municipal Finance at GV Plekhanov Russian University of Economics, who provided context on the revenue and expenditure outlook.
Earlier statements in Russia explained the deliberate rise in budget revenues and expenditures over the three-year period as part of the fiscal strategy.