The Joint Venture issued a positive opinion on the draft federal budget for 2025
The Accounting Chamber of Russia has submitted a positive opinion on the proposed draft federal budget for 2025. The agency's conclusion was presented by Boris Kovalchuk, Chairman of the Accounts Chamber of the Russian Federation, during a speech at the Federation Council on June 18.
"The changes are mainly aimed at updating the revenue and expenditure parts of the federal budget, taking into account the current economic situation. Also, for the planned period of 2026 and 2027, the distribution of certain types of inter-budget transfers to budget entities of the Russian Federation is being clarified without significantly changing their total volume," Kovalchuk said.
The experts of the Accounting Chamber concluded that the main parameters of the forecast of socio-economic development for 2026 and the planning period of 2027 and 2028 have been adjusted to reflect existing trends.
"At the same time, the dynamics of indicators over the forecast horizon is multidirectional. So, for this year, the forecast for the growth rate of investments in fixed assets has been worsened from 2.1% to 1.7%, and the level of real wages from 7% to 6.8%. At the same time, the forecast for industrial production has been improved from 2% to 2.6%," he said.
As for the exchange rate of the national currency, it has been adjusted from 96.5 to 94.3 rubles per US dollar. At the same time, monetary conditions will continue to remain tight next year: according to the Bank of Russia's forecast, the key rate will significantly exceed inflation, Kovalchuk stated.
On June 18, the Federation Council approved a draft law on amendments to the federal budget for 2025. 164 people voted for the changes, which is 92.1%. Federation Council Chairman Valentina Matvienko noted that the law was prepared professionally, and it did not cause any comments from senators.
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