“Guarantees the fulfillment of all social obligations”: the Russian government submitted a draft budget for three years to the State Duma

The Russian government has submitted a draft law “On the federal budget for 2023 and for the planned period of 2024 and 2025” to the State Duma for consideration.

The corresponding order was signed by Prime Minister Mikhail Mishustin.

As the head of the Cabinet noted earlier, when drawing up the document, many current challenges were taken into account and possible risks for the economy were worked out.

At the same time, the authorities proceeded from the need to fully fulfill their obligations to the Russians and the instructions of the president, the government said in a statement.

In particular, we are talking about targeted support for families with children, payments to pregnant women in difficult financial situations, conducting in-depth medical examinations and developing medical rehabilitation programs.

Along with this, funds are provided for providing free medical care throughout Russia, and funding has been increased to support the sustainable operation of regional hospitals and polyclinics.

“He (draft budget. -

) guarantees the fulfillment of all social obligations of the state to the people.

It contains resources for strategic tasks, which the President has identified in the form of national goals.

Over the next two years, it is planned to allocate approximately 3 trillion rubles annually for the implementation of national projects,” Mishustin said.

According to the project, the revenues of the Russian budget will increase throughout the entire three-year period.

In 2023, they can amount to 26.13 trillion rubles, in 2024 - 27.24 trillion, and in 2025 - 27.98 trillion.

State treasury spending will only grow over the next two years, after which it will decrease somewhat.

So, in 2023, budget spending will amount to 29 trillion rubles, in 2024 - about 29.43 trillion, and in 2025 - 29.24 trillion.

Thus, according to the authorities, all three years the treasury's expenses will exceed the amount of income.

In 2023, the budget deficit may amount to about 2.87 trillion rubles (2% of the country's GDP), in 2024 - 2.19 trillion (1.4% of GDP), and in 2025 - 1.26 trillion ( 0.7% of GDP).

“There is nothing terrible for the economy in the budget deficit itself, this is a common practice.

Much will depend on the sources of its funding.

At the same time, the deficit itself will decrease every year.

This positive trend allows us to count on the sustainability and stability of the budget structure, ”said Nikita Maslennikov, head of the Finance and Economics department at the Institute of Contemporary Development, in a conversation with RT.

According to him, the budget may include spending on supporting new regions after they become part of Russia, as well as spending on helping businesses and the population under sanctions.

At the same time, the financing of all social programs is reliably protected and will not be cut, the specialist emphasized.

A similar position was expressed by Svetlana Bessarab, a member of the State Duma Committee on Labour, Social Policy and Veterans Affairs.

“Key budget expenditures are now directed both to the military-industrial complex and to social spending.

It is planned to allocate significant amounts from the budget only to increase social payments and benefits.

It is important for us that, along with the defense industry, projects in the field of education and healthcare continue to develop, and our citizens can fully receive the necessary social assistance, ”said the interlocutor of RT.

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According to the head of the RF Ministry of Finance Anton Siluanov, in order to increase cash receipts to the budget, the government has provided for a number of tax initiatives.

In particular, the measures will affect enterprises of the Russian energy sector.

“Key proposals: increasing export duties on pipeline gas, withdrawing additional income from liquefied natural gas producers, introducing an export duty on fertilizers and thermal coal if prices for these products remain high, and increasing taxation of the oil industry,” the minister said.

At the same time, as Mikhail Mishustin emphasized, the authorities do not intend to use money from the National Wealth Fund to cover the budget deficit.

It is planned to compensate the expenses of the treasury mainly at the expense of borrowings.

At the same time, the level of Russia's public debt will continue to remain at an acceptable level, according to the government.

“This approach will provide more active support for the economy during the period of adaptation and restructuring of economic ties, on the one hand, and on the other hand, it will contribute to sustainable development and structural changes in the medium term, maintaining confidence in the macroeconomic policy pursued by the state,” Mishustin noted.

Exit to the plus

As President Vladimir Putin said on September 19, the current changes and trends in the global economy are of a long-term nature.

Against this background, the authorities should use systemic mechanisms and provide effective responses to challenges for the entire area of ​​public finance, the head of state stressed.

“It is important for the next three years, and in the future, to maintain a line on the stability and balance of the federal budget, which will allow us to confidently and consistently solve the set tasks of modernizing the economy and the social sphere, strengthening infrastructure and supporting the regions, and other important areas of the country's development,” Putin added.

• kremlin.ru

It should be noted that the approved draft budget was drawn up on the basis of a forecast of socio-economic development, which implies that in 2023 the volume of Russia's GDP will decrease by 0.8%, but in 2024 and 2025 it will return to growth and will annually add 2 .6%.

Meanwhile, with a more confident economic recovery, government revenues may also begin to grow at an accelerated pace, Nikita Maslennikov believes.

In this case, according to the expert, already in 2025 there is a possibility of overcoming the budget deficit and even reaching a surplus.

“We need to look at how in 2023 we will be able to provide conditions for adapting businesses and stimulating investment activity.

You also need to take into account that the whole world is now sliding into a recession, and the demand for energy is falling.

This poses risks to the budget.

However, this option, I think, is already included in the budget.

Nevertheless, sources of budget financing, taking into account any scenarios, are provided, ”concluded Maslennikov.