06.05.2025, 22:45
The Ministry of Finance will spend 447 billion rubles from the National Welfare Fund to cover the budget deficit
Source: OREANDA-NEWS
OREANDA-NEWS The Ministry of Finance of the Russian Federation will spend 447 billion rubles from the National Welfare Fund (NWF) to cover the budget deficit in 2025, but does not plan additional loans on the market or increase spending beyond the growth of non-oil and gas revenues, Finance Minister Anton Siluanov told reporters at a briefing.
"The increase in the budget deficit is not related to any new borrowings. This is only due to the fact that our oil and gas revenues have been reduced... The difference is in the reduction of the budget revenue base due to the reduction of the oil and gas part of the budget revenue and, consequently, the non-replenishment of the National Welfare Fund. If you remember, the National Welfare Fund was supposed to be replenished later, now we will not only not replenish the National Welfare Fund, but even according to those forecast calculations, we will put 447 billion rubles on it," Siluanov said.
"If you remember, our National Wealth Fund was supposed to be replenished. In the first three months, we increased it by more than 200 billion rubles. In general, for the year, we expect that, based on the forecast data of the Ministry of Economy, which we took as the basis for clarifying the federal budget, we will use the funds of the National Welfare Fund for 447 billion rubles. No additional borrowing volumes or increased expenses beyond the growth of non-oil and gas revenues are expected. This means that the volume of borrowings in the market is not increasing either," he said.
The minister specified that the volume of budget expenditures of the Russian Federation in 2025 will amount to 42.298 trillion rubles. "We are talking about the fact that we have increased the volume of expenditures for an increase of 829 billion non-oil and gas revenues," he said
The government of the Russian Federation previously approved a bill clarifying the indicators of the budget of the Russian Federation for 2025, while the indicators for 2026-2027 do not change. Budget priorities also remain, including social support for citizens and financial support for the country's defense and security.
The federal budget deficit in 2025 will increase to 3.8 trillion rubles, or 1.7% of GDP, revenues will decrease to 38.506 trillion rubles; at the same time, oil and gas revenues are expected to amount to 8.317 trillion rubles, and non-oil and gas revenues will grow to 30.189 trillion rubles.
"The increase in the budget deficit is not related to any new borrowings. This is only due to the fact that our oil and gas revenues have been reduced... The difference is in the reduction of the budget revenue base due to the reduction of the oil and gas part of the budget revenue and, consequently, the non-replenishment of the National Welfare Fund. If you remember, the National Welfare Fund was supposed to be replenished later, now we will not only not replenish the National Welfare Fund, but even according to those forecast calculations, we will put 447 billion rubles on it," Siluanov said.
"If you remember, our National Wealth Fund was supposed to be replenished. In the first three months, we increased it by more than 200 billion rubles. In general, for the year, we expect that, based on the forecast data of the Ministry of Economy, which we took as the basis for clarifying the federal budget, we will use the funds of the National Welfare Fund for 447 billion rubles. No additional borrowing volumes or increased expenses beyond the growth of non-oil and gas revenues are expected. This means that the volume of borrowings in the market is not increasing either," he said.
The minister specified that the volume of budget expenditures of the Russian Federation in 2025 will amount to 42.298 trillion rubles. "We are talking about the fact that we have increased the volume of expenditures for an increase of 829 billion non-oil and gas revenues," he said
The government of the Russian Federation previously approved a bill clarifying the indicators of the budget of the Russian Federation for 2025, while the indicators for 2026-2027 do not change. Budget priorities also remain, including social support for citizens and financial support for the country's defense and security.
The federal budget deficit in 2025 will increase to 3.8 trillion rubles, or 1.7% of GDP, revenues will decrease to 38.506 trillion rubles; at the same time, oil and gas revenues are expected to amount to 8.317 trillion rubles, and non-oil and gas revenues will grow to 30.189 trillion rubles.
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