Russia Approves New Three-Year Budget
The Russian government approved a new three-year federal budget on September 24, with a projected deficit of 2.2% of GDP in 2027 and a reduced oil price threshold of $50 per barrel for the National Wealth Fund. The budget prioritizes military spending, social programs, and technology, funded through spending cuts and targeted tax increases.
Consensus
- The Russian government approved the draft federal budget for the next three years on September 24.
- The budget includes a projected deficit of 2.2% for 2027, down from 3% in 2026.
- Key priorities are military spending, social programs, and technological development.
- The oil price threshold for the National Wealth Fund was reduced from $59 to $50 per barrel.
- The budget will be submitted to the newly elected State Duma after revisions by October 1.
- Spending cuts totaling 2 trillion rubles and targeted tax increases will fund the priorities.
Points of divergence
- The 2027 budget deficit in rubles is estimated at 5.5 trillion, based on income of 43.3 trillion and expenditures of 48.8 trillion rubles. — kommersant
- The State Duma will consider the budget alongside the Central Bank's monetary policy directions, with a focus on inflation reduction. — vesti
- Minister of Finance Anton Siluanov described military spending as 'front-line tasks' (quoting him directly). — tg_radiosvoboda
Coverage (5 sources)
- Government approved the project of a new three-year budget — Коммерсантъ
- In the State Duma, they spoke about the goals of the federal budget project for three years — Вести
- War and "Cub". What to expect from the next budget — Радио Свобода
- Silyanov – on preparation of the budget project for the coming years and privatization — Вести
- Government will consider federal budget project on Thursday — Вести
Key entities
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