Siluanov announced a balanced budget policy for the next three years

In the next three years, the Russian Ministry of Finance plans to pursue a balanced and balanced budget policy. This was announced by the head of the Ministry Anton Siluanov on November 26 at the International Forum of the Finance University.

"In the next three years, we will pursue a very balanced, balanced budget policy. But [we cannot] refuse to stimulate certain areas, such as technological development, breakthroughs. Those industries that need to be supported, we will do that," Siluanov said.

He pointed out that the Ministry of Finance's policy has been stimulating for a long time, for example, during the coronavirus pandemic and after it. Then the support was necessary, because the activity of people and enterprises had to be limited. Later, when the Russian Federation faced unprecedented sanctions and restrictions, the Ministry of Finance also needed to pursue a stimulative policy, but this, according to the minister, cannot continue all the time.

Siluanov pointed out that the Russian economy is now overheating, and the Russian Central Bank (CB) is trying to cool it down. Stimulation on the part of the Ministry of Finance contradicts these efforts and would only cause further growth of the key rate, so the ministry will move to a balanced policy, and the support of individual industries will be made point-by-point.

Russia has adopted a federal budget for three years. What you need to know

Earlier, on November 21, the State Duma passed in the third reading the law on the federal budget for 2025 and the planning period of 2026-2027. In 2025, federal budget revenues are expected to grow to Br40.296 trillion, which is 11.6% more than in the current year. In 2026, the income is projected at Br41.841 trillion, while in 2027 - Br43.154 trillion. In addition, the budget provides Br21.3 trillion for three years for social policy, which includes indexation of pensions, social benefits and support for families with children. The law adopted by the State Duma takes into account all the challenges faced by Russia.

The document was submitted to parliament on September 30. It states that the largest part of the budget in 2025 will go to defense (32.5%), then to social policy (15.7%), national economy (10.5%), national security and law enforcement (8.3%).