“Purely financially, if you approach it in a purely accounting way, of course, this excise will compensate some part of the budget.

In general, we can say that it is quite significant, because our cigarette turnover occupies a fairly significant place.

Tens of billions of rubles will go to the budget and help to close part of this budget deficit, "Belyaev emphasized.

Earlier, the Ministry of Finance of Russia prepared a draft amendment to the Tax Code, which proposes to increase excise rates on cigarettes and tobacco products by 20% in 2021.

According to Finance Minister Anton Siluanov, the initiative will raise an additional 70 billion rubles. The minister noted that "it will cost about 20 rubles per pack, if you look at the cost of cigarettes in the amount of about 120 rubles."