MOSCOW, June 2024 – The Russian government has submitted a federal budget proposal for 2027-2029 to the State Duma, prioritizing social commitments, defense, and technological leadership.

The deficit is expected to reach 3.2% of GDP in 2026, equivalent to 7.335 trillion rubles. Federal spending is projected at 48.8 trillion rubles in 2027, 50.9 trillion in 2028, and 53.9 trillion in 2029. Revenues are forecasted at 43.3 trillion rubles in 2027, 45.8 trillion in 2028, and 48.6 trillion in 2029.

The economy is anticipated to grow by 1.4% in 2027 and accelerate to 2.4% by 2029.