MOSCOW: The State Duma, the lower house of the Russian parliament, approved in the second reading the bill on changes in federal budget ind...
MOSCOW: The State Duma, the lower house of the Russian parliament, approved in the second reading the bill on changes in federal budget indicators for the year of 2025.
Discussion of amendments to the 2025 federal budget is this time beyond the framework of the traditional analysis of revenues and deficit, member of the State Duma Committee for Small and Medum Business Alexey Govyrin said.
"Areas go the forefront where the budget does not merely seek after closing liabilities but making the groundwork for the future. An example in this regard can be the systemic work with spatial development and the stake put on the so-called ‘new type cities,’ combining educational, digital and investment infrastructure," he said.
"In parallel, funds will be allocated for grant support of engineering and R&D projects - that is, to form the technology base capable of working for exports and the domestic market," the lawmaker added.
According to the document approved in the first reading, revenues of the Russian budget will total 38.5 trillion rubles ($482 bln) or 17.4% of GDP. Oil and gas revenues are targeted as 8.317 trillion rubles ($104.1 bln) or 3.7% of GDP. Non-oil and gas revenues are expected to total 30.188 trillion rubles ($377.9 bln) or 13.6% of GDP.
Budget expenditures will stand at 42.298 trillion rubles ($529.6 bln). The budget deficit is expected to be 3.8 trillion rubles ($47.6 bln) or 1.7% of GDP.
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