Ministry of Finance presented federal budget draft to Federation Council

Russian Finance Minister Anton Siluanov presented a draft federal budget to the Federation Council. The press service of the Federal Cabinet highlights the following main provisions of the document:

— The budget deficit will not exceed 1% of GDP, expenses will amount to about 35.5 trillion rubles per year;

— More than 2.5 trillion rubles will be allocated annually from the President’s messages to the Federal Assembly to finance events;

— The total amount of spending on national defense will be 10.8 trillion rubles;

— The project includes funds for the indexation of pensions by 7.5%, assistance to families with children, and the provision of maternity capital;

— More than 100 billion rubles have been allocated for the social contract program;

— The priorities for financing in the healthcare sector are modernization of primary care - more than 200 billion rubles; drug provision - more than 1 trillion rubles. Provision of medical care to cancer patients - more than 400 billion rubles;

— 111 billion rubles are allocated for the creation of new places in general education organizations;

— The civil industry will receive 2.7 trillion rubles, with an emphasis on radio electronics, aircraft manufacturing, unmanned aerial systems, and other areas;

— Funding for road construction will amount to more than 1 trillion rubles.

In general, the most significant areas of spending for 2024 are the national economy (10.7%, or 3.9 trillion rubles), social policy (21.1%, or 7.7 trillion rubles), and national defense (29.3 %, or 10.7 trillion rubles), according to federal media that have read the explanatory note to the bill. Expenditures on social policy will increase by 15.4% compared to last year, on the economy - by 4.9% less, and on national defense - by 1.7 times more than in the current year.

“The structure of the budget shows that the main emphasis is on ensuring our victory - the army, defense capability, armed forces, fighters - everything necessary for the front, everything necessary for victory is in the budget,” said Anton Siluanov, presenting the draft budget at the plenary session of the International financial forum on September 28.