Russian State Duma Adopts Law on Federal Budget of the Russian Federation for 2026-2028

Moscow, November 20. INTERFAX.RU – The State Duma approved in the third reading the law on the federal budget for 2026 and the planning period for 2027 and 2028 during a session on Thursday. The document (No. 1026181-8) was introduced to the parliament by the government in September. The main budget parameters for 2026 are based on a projected GDP volume of 235.067 trillion rubles and inflation not exceeding 4%. Federal budget revenues in 2026 will amount to 40.283 trillion rubles, with expenditures reaching 44.069 trillion rubles. The deficit is projected to be 3.786 trillion rubles (1.6% of GDP). The main characteristics of the federal budget for 2027 and 2028 are determined based on a projected GDP volume of 255.498 trillion rubles for 2027 and 276.346 trillion rubles for 2028, with an inflation rate not exceeding 4% annually. Revenues for 2027 are planned at 42.910 trillion rubles, expenditures at 46.096 trillion rubles, and a deficit of 3.185 trillion rubles (1.2% of GDP). For 2028, revenues are forecasted at 45.869 trillion rubles, expenditures at 49.383 trillion rubles, and a deficit of 3.513 trillion rubles (1.3% of GDP). The upper limit of the state domestic debt is set at 37.436 trillion rubles as of January 1, 2027, 42.185 trillion rubles as of January 1, 2028, and 47.412 trillion rubles as of January 1, 2029. The upper limit of the state external debt is $66.8 billion or 59.1 billion euros as of January 1, 2027; $63.9 billion or 57.6 billion euros as of January 1, 2028; and $62.3 billion or 56.1 billion euros as of January 1, 2029. Additional oil and gas revenues are forecasted to reach 342.1 billion rubles in 2027 and 782.6 billion rubles in 2028. The volume of the National Welfare Fund is expected to be 13.637 trillion rubles in 2026, 13.660 trillion rubles in 2027, and 13.836.9 trillion rubles in 2028. The volume of public normative obligations (social benefits, allowances, pensions) will amount to 2.089 trillion rubles in 2026, 1.582 trillion rubles in 2027, and 1.653 trillion rubles in 2028. In 2026, the subsistence minimum is set at 18,939 rubles overall for the Russian Federation, 20,644 rubles for able-bodied population, 16,288 rubles for pensioners, and 18,371 rubles for children.