The Russian State Duma has approved draft federal budget for 2020 and the planned period of 2021-2021 in the final reading.
According to the draft document, the budget revenues in 2020 will amount to 20.379 trillion rubles, in 2021 - 21.246 trillion rubles, in 2021 - 22.058 trillion rubles.
Expenditures in 2020 are planned in the amount of 19.503 trillion rubles, in 2021 - 20.634 trillion rubles, in 2022 - 21.763 trillion rubles.
A significant portion of the budget will be spent on social security, defense and national security.
The budget surplus in 2020-2022 is expected to be 0.8%, 0.5% and 0.2% respectively. The projected GDP volume for 2020 is 112.863 trillion rubles.
According to the oil price forecast, the average oil price will be $57 per barrel in 2020, it will go down to $56 per barrel in 2021, to $55 per barrel in 2022.
Federal budget spending on national projects in 2020 will increase up to 1.982 trillion rubles ($30.54 bln). In 2021, it will reach up to 2.217 trillion rubles ($34.16 bln), in 2022 - 2.692 trillion rubles ($41.48 bln). In total, in 2020-2022 - 7 trillion rubles.
Inflation outlook budgeted for 2020 has been adjusted to 3%, 4% - in 2021-2022.
