Putin Signs Law on Federal Budget for 2025-2027

Budget revenues in 2025 will amount to 40.296 trillion rubles ($379 billion), expenses - 41.469 trillion rubles. It is planned to increase budget revenues in 2026 to 41.841 trillion rubles, and to 43.154 trillion in 2027 ; expenses to 44.022 trillion and 45.915 trillion rubles, respectively.

The budget deficit in 2025 will amount to 0.5% of GDP, 0.9% of GDP in 2026, and 1.1% of GDP in 2027. The main source of financing the budget deficit will be domestic government borrowing.

The National Welfare Fund is planned to be 11.055 trillion rubles at the beginning of 2025, 12.883 trillion in 2026, and 14.927 trillion in 2027, i.e. it will grow from 5.2% of GDP to 6% of GDP.

The upper limit of Russia's domestic public debt at the beginning will be 29.386 trillion rubles of 2026, and $61.1 billion (or 55.5 billion euros)for external debt; 34.046 trillion rubles and $59.2 billion (or 53.4 billion euros) at the beginning of 2027, and 39.005 trillion rubles and $56.5 billion (or 50.9 billion euros) at the beginning of 2028. Expenditures on servicing the national debt will amount to 3.182 trillion rubles in 2025, 3.475 trillion rubles in 2026, and 3.594 trillion rubles in 2027.

The key priorities of the federal budget in this three-year period are the fulfillment of all social obligations by the state to citizens, ensuring the security and defense of the country, achieving technological sovereignty and developing infrastructure.