Additional funds will be allocated from federal budget for regional development

State Duma deputies adopted in the first reading amendments introduced by the Russian government to the federal budget for 2024 and the planning period 2025-2026. According to State Duma Chairman Vyacheslav Volodin, the amendments provide for an increase in federal budget expenditures this year by 522 billion rubles. These funds will primarily be used to implement the President’s message to the Federal Assembly and his instructions.

An additional 47.8 billion rubles will be allocated for mortgage payments to large families. More than 200,000 families will receive 450 thousand rubles this year, which they can use to pay off their mortgage loans. Another 66.2 billion rubles will be allocated to extend the Family Mortgage program in small towns and regions with low levels of housing construction. This will improve the living conditions of 106 thousand families.

33.2 billion rubles will be allocated to increase, from March 1, 2024, the amount of monthly remuneration from 5 thousand to 10 thousand rubles for classroom management in schools and group supervisors in colleges and technical schools located in settlements with a population of less than 100 thousand people. More than 539 thousand teachers will receive payments. Additional funds will be used to increase support for regions, including new constituent entities of the Russian Federation, for the indexation of pensions, scholarships, and payments to veterans.

In addition, deputies adopted government amendments to the Budget Code of the Russian Federation in the first reading, which was necessary to improve the tax system.

“The bill provides for the direction of all additional revenues that will appear in connection with introducing a progressive tax rate scale into the federal budget. Our task is to make the tax system as fair as possible so that additional funds are directed to support those who need it most - families with children, pensioners, veterans,” said Vyacheslav Volodin.

The amendments will ensure the write-off of two-thirds of the debt of the Russian Federation's constituent entities on budget loans, provided that the regions use these freed-up funds to implement infrastructure projects and support investments.

Author: Daria Subbotina