MOSCOW, June 11. /TASS/. The State Duma, the lower house of the Russian parliament, has adopted in the third reading a law on amendments to the federal budget indicators for 2025. The amendments concern only 2025, the indicators of the planning period 2026-2027 do not change.
According to the document, the budget revenues of the Russian Federation in 2025 will amount to 38.5 trillion rubles ($490 bln), or 17.4% of GDP (in the previously adopted budget law - the revenues amounted to 40.296 trillion rubles ($513 bln)).
Oil and gas revenues are planned in the amount of 8.317 trillion rubles ($106 bln), or 3.7% of GDP. The growth in non-oil and gas revenues is expected to be 829.2 billion rubles ($10.5 bln). (total amount 30.188 trillion rubles ($384 bln), or 13.6% of GDP) mainly due to an increase in the receipt of individual taxes and non-tax payments.
"An increase in the revenue estimate is envisaged for a number of taxes and non-tax payments, including: value added tax - due to an increase in the nominal volume of GDP and the expected growth in collection while simultaneously reducing import volumes in ruble terms, domestic excise taxes (mainly on tobacco products) - due to the projected growth in taxable sales volumes, personal income tax - mainly due to a higher base established by the end of 2024, as well as an adjustment to the projected level of the wage fund, income from the balances of funds in federal budget accounts and from their placement, except for the National Wealth Fund’s funds - against the background of the established volumes of placement of funds and an increase in the key rate at the end of 2024, income from the transfer of part of the profit of the Bank of Russia - taking into account the established profit by the end of 2024," the explanatory note to the document says.
Budget expenditures will amount to 42.298 trillion rubles ($538 bln). The budget deficit is expected to be at the level of 3.8 trillion rubles ($48 bln), or 1.7% of GDP. The oil price forecast for 2025 has been reduced from $69.7 to $56 per barrel, and the dollar exchange rate forecast has been adjusted from 96.5 to 94.3 rubles. The inflation forecast is 7.6% (the approved one for 2025 is 4.5%).