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Law specifying certain parameters of the federal budget for 2024

July 12, 2024

The President signed Federal Law on Amendments to the Federal Law On the Federal Budget for 2024 and the 2025–2026 Planning Period.

The Federal Law specifies certain parameters of the federal budget for 2024 based on the projected volume of GDP at 191,437 billion rubles and the inflation rate of up to but not exceeding 5.1 percent, in particular, a decrease in revenue to 35,062.5 billion rubles, an increase in expenditures to 37,182.6 billion rubles, and a budget deficit of up to 2,120.1 billion rubles.

For the purpose of the implementation of the Presidential Address to the Federal Assembly, the Federal Law stipulates that two-thirds of the debts of the constituent entities of the Russian Federation (as of March 1, 2024) under loans provided from the federal budget shall not be repaid in 2024. This part of the debt will be due in 2025.

July 12, 2024