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Taking part in the meeting were Prime Minister Mikhail Mishustin, Chief of Staff of the Presidential Executive Office Anton Vaino, First Deputy Prime Minister Denis Manturov, Deputy Prime Minister – Chief of the Government Staff Dmitry Grigorenko, deputy prime ministers Tatyana Golikova, Alexander Novak and Marat Khusnullin, Deputy Chief of Staff of the Presidential Executive Office Maxim Oreshkin, Minister of Economic Development Maxim Reshetnikov, Minister of Finance Anton Siluanov, and Central Bank Governor Elvira Nabiullina.

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President’s opening remarks

President of Russia Vladimir Putin: Good afternoon, colleagues,

We continue to work on the draft federal budget for 2025 and the 2026–2027 planning period. We are discussing high-priority aspects of the country’s main financial document, specific budgetary objectives and, of course, the macroeconomic conditions necessary for achieving these objectives.

We have already discussed economic policy guidelines until 2030, and we have identified systemic solutions and measures to strengthen the country’s industrial, logistic and financial capabilities that directly influence the state of the budget, its formation and execution.

I suggest we devote today’s meeting to specific practical steps to fill the draft federal budget with real content. For example, we will discuss its key revenues and expenditures.

Our priorities in terms of public expenses should, as before, include providing social support, strengthening the country’s defence capability, integrating the regions of Donbass and Novorossiya, advancing technological development of Russia's economy and social services, expanding and consolidating infrastructure, modernising cities and towns, and improving living standards.

I would like to note that new national projects will be launched early next year to achieve tangible positive changes in all areas of life and to ensure Russia’s long-term and sustainable development.

We need to allocate financial resources for their successful implementation and to include their required volume in the federal budget.

Strategic long-term decisions for finetuning the taxation system should come into play here. These are intended to make the system more equitable and effective. These changes will also take effect next year.

I would like to emphasise the importance of maintaining a responsible budgetary policy to confidently and consistently achieve national development goals. It is necessary to ensure a well-balanced federal budget and the entire system of state finances for the next three years and in the longer term.

I suggest we discuss all these issues in detail and work actively today.

Let us get down to work. Mr Siluanov has the floor. Please.

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