The State Duma has given its final approval to the 2023 federal budget and the planning period covering 2024 through 2025, signifying a milestone in Russia’s fiscal management. The approval came in the third reading, a stage that many lawmakers described as unusually demanding given the volatility of international sanctions, ongoing geopolitical developments, and the shifting contours of the global economy. The process underlined the legislators’ intent to anchor a budget that can weather unpredictable shocks while still supporting essential national priorities, and it reflects a careful balancing act between fiscal responsibility and strategic flexibility.
Vyacheslav Volodin, who leads the lower house, framed the budget as the most arduous to craft in recent memory. He noted that forecasting sanctions and the broader trajectory of the world economy has become increasingly uncertain. In his view, the task of drafting a budget under such conditions requires provisions that are both adaptable and reliable, ensuring that resources can be redirected when needed without compromising the government’s core commitments. This emphasis on flexibility with stability aims to preserve fiscal discipline while preserving the ability to respond to evolving economic realities.
The discussion echoed similar sentiment from other senior figures, including Finance Minister Anton Siluanov and State Duma deputy Andrei Makarov. They pointed out that during the second reading, the committee received a large volume of amendments, highlighting a robust engagement from lawmakers with the budget’s detailed allocations. The total value of redistributed funds in that phase reached roughly two trillion rubles, illustrating the scale of reallocation that accompanies a plan of this magnitude. Such figures underscore the politics of budget management in a period of dynamic external pressures and domestic priorities, where every ruble is weighed against competing needs across public services, investment programs, and social protection.
Andrey Makarov, who chairs the State Duma Committee on Budget and Taxes, commented on the plenary session held on November 22, noting its intensity as the draft federal budget for the upcoming three-year horizon was examined. The chamber spent about four hours reviewing the document that maps out government spending for 2023 and the 2024–2025 planning period. In that session, lawmakers scrutinized revenue projections, spending envelopes, and the policy implications embedded in the budget, seeking to strike a balance between supporting growth, maintaining essential public functions, and safeguarding financial stability in a challenging external environment. The careful, detailed examination reflects a legislative culture that prioritizes accountability and transparency, even as the economic landscape remains uncertain and evolving.