Executing Russia's budget within 'fiscal rule' to help curb inflation - Finance Ministry

MOSCOW. Sept 30 (Interfax) - Executing Russia's federal budget within the "fiscal rule" should assist in curbing the inflationary processes, the Finance Ministry said.

The government submitted the draft budget for 2025 and the 2026-2027 planning period to the State Duma on Monday.

"The budget is balanced for 2025 and the 2026 and 2027 planning period. Implementing budget policy should be in full compliance with the 'fiscal rule' as of 2025. A structural primary balance of the budget with basic incomes is ensured," the Finance Ministry said.

"This should assist in curbing the inflationary processes in the short term, and strengthen financial sovereignty and the stability of the economy in the medium and long term," the ministry said.

Deputy Chief of Staff of the Presidential Executive Office Maxim Oreshkin last week also talked about the "disinflationary nature" of the 2025 budget parameters.

"The government's decision is very important regarding the matter with inflation. What we should see, and what is included in the draft budget, is a very serious reduction in the non-oil and gas deficit in the coming year. What does this mean? On the one hand, this means long-term sustainability in public finances. However, what is also important is that this is a reduction in the transfer from the oil and gas part of the economy to the non-oil and gas part, which should curb demand and ensure a reduction in inflationary pressure, which is very important, for example, for taking decisions on monetary policy," Oreshkin said.