Kovalchuk called social development one of the key areas of the draft law on the budget of the Russian Federation

On October 6, Boris Kovalchuk, Chairman of the Accounts Chamber of the Russian Federation, during a speech at the Federation Council, called social development one of the priorities of the draft law on the country's budget. In his preliminary assessment, he noted that the draft budget will focus on financing new national projects and changing the tax burden.

Among the key priorities, Kovalchuk highlighted social development, financial support for defense and security, assistance to families of participants in a special military operation, as well as the fulfillment of national goals and objectives set by Russian President Vladimir Putin until 2030.

"In terms of macroeconomic indicators, economic growth is expected to slow to 1% per year and 1.3% in 2026. In the future, GDP will grow by 2.8% and 2.5% in 2027-2028. The main growth factor will be domestic demand. Retail trade turnover will increase by 8.8% in three years," he said.

However, Kovalchuk stressed that the main risk of implementing the forecast is the continuation of tight monetary conditions and a slowdown in global economic growth.

Raise the plan: the budget deficit of the Russian Federation may grow to 4.4 trillion

How does a strong ruble contribute to this and what is the threat of an increase in shortages?

On June 18, Kovalchuk announced that the Joint Venture of Russia had submitted a positive opinion on the proposed draft federal budget for 2025. According to him, the experts of the Accounting Chamber came to the conclusion that the main parameters of the forecast of socio-economic development for 2026 and the planned period of 2027 and 2028 have been adjusted to reflect existing trends.

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