Budget law adopted by Bashkiria State Assembly

Deputies of the State Assembly of Bashkiria adopted the law "On a budget of the Republic of Bashkortostan for 2023 and the planning period of 2024 and 2025".

"After it was adopted in the first reading, the bill was finalized, taking into account the amendments made. The changes affected both the revenue and expenditure sides of the budget. In particular, the forecast for tax and non-tax revenues in 2023 has been revised with an increase of RUB 10 billion. Thus, in connection with the projected growth of the tax base, an increase in corporate income tax revenues is expected. The plan for excises on oil products has been increased, which will replenish the road fund", said the head of the republican parliament, Konstantin Tolkachev.

The Chairman of the State Assembly drew attention to the reduction in the volume of gratuitous receipts from the federal budget compared with the bill's original version.

"The decrease in funds from the federal budget is mainly technical and is associated with a change in the procedure for financing expenses for the payment of benefits in connection with the birth and upbringing of a child. These funds will no longer be reflected in the republican budget but will be directly transferred to the Pension and Social Insurance Fund. On the expenditure side, the volume of budget allocations for fulfilling public regulatory obligations has decreased proportionately," explained Konstantin Tolkachev.

After finalizing the document, the total volume of federal budget tranches in 2023 is estimated at 76.9 billion rubles, 2024 – at 52.2 billion, and 2025 – 54.6 billion rubles.

"The fulfillment of social obligations to citizens has been and remains the most important task when planning future costs. We have a clear understanding that all social expenses will be fully funded. Also, activities aimed at the infrastructural development of the republic will be financed as a priority," said Konstantin Tolkachev.

The law establishes the following parameters of the budget of the Republic of Bashkortostan:

For 2023: revenues - 267.3 billion rubles, expenses - 285.1 billion rubles;

For 2024: revenues - 245.5 billion rubles, expenses - 252.5 billion rubles;

For 2025: revenues - 259.2 billion rubles, expenses - 262.7 billion rubles.

The law has been sent for signature to the Head of the Republic of Bashkortostan, the Kurultai press service reported.