Russia's GDP will grow by almost 7%

The draft budget is based on the baseline socioeconomic development forecast. According to the document, GDP is projected to grow by 1.3% next year and by almost 7% over the next three years, reaching approximately 276 trillion rubles in nominal terms. Budget revenues for 2026 are projected at 40.283 trillion rubles. The share of non-oil and gas revenues is expected to increase to nearly 78% of the total.

As Prime Minister Mikhail Mishustin noted, budget policy over the three-year horizon is aimed at achieving national development goals and addressing the country's key challenges.

"Work on the main financial document was based on current challenges. The global situation remains unstable. Instead of the expected recovery, the global economy is facing new shocks. "There's a significant revision of the parameters of bilateral trade between states. Mistrust of existing financial institutions is also growing. Countries are seeking new ways to protect themselves from excessive external pressure. In such circumstances, planning must be meticulous. Risks must be assessed to establish a sustainable resource foundation," Mikhail Mishustin emphasized.

Author: Insaf Khuzhabirganov