Russian PM Mishustin says budget revenues to grow 40.3 trln rubles, expenses to rise 41.5 trln rubles, deficit to be 0.5% of GDP in 2025

MOSCOW. Sept 24 (Interfax) - The revenues of Russia's federal budget will grow to 40.3 trillion rubles and expenses rise to 41.5 trillion rubles in 2025, while the deficit will be 0.5% of GDP, Prime Minister Mikhail Mishustin said at a government meeting.

"Revenue growth is projected up to 40.296 trillion rubles for 2025, nearly 12% more than in the current year. Moreover, the share of non-oil and gas revenues in the total volume will grow to 73%. This increase will allow for a rise in funding for obligations, programs, and projects," Mishustin said.

Mishustin said that budget expenditures would increase to nearly 41.47 trillion rubles in 2025.

The government is allocating 24 trillion rubles to implement state programs in 2025. A significant share of resources has been allocated to implement national projects prepared by the government upon the instructions of the president.

Mishustin said that, "The federal budget is expected to be executed at a deficit for the three-year period, at 0.5% of GDP in 2025."