Minister says Russia’s 2024–2026 budget solid, no serious deficits

VLADIVOSTOK, Sep 11 (PRIME) -- The structure of Russia’s federal budget for 2024–2026 is solid and stable and has no serious deficits, Economic Development Minister Maxim Reshetnikov told reporters on the sidelines of the Eastern Economic Forum on Monday.

“Everyone had expectations of significant budget deficits in 2024–2025. The budget design process is entering its final stage now. Generally, we can see no serious deficits. The economic situation develops well,” he said.

“Yes, we will likely have some deficit, there are various scenarios to imagine. But it is about replenishment of the National Wealth Fund and the energy income. In general, the construction of the budget looks steady,” he also said.

Reshetnikov said that Russia’s economic growth will be good in 2023, and the impulse will continue in 2024.

The Economic Development Ministry hopes that the investment cycle will be relaunched in 2025–2026, the minister added.

“But the years of 2025-2026 are the issue of investment, the investment structure, the resumption of the investment cycle. The figures I mentioned signal that we are at a normal level,” he said.

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