Federation Council committee backs Russia’s three-year budget draft

The Federation Council’s budget and financial markets committee supported the government’s draft federal budget for 2027–2029 at its October 12 meeting, RIA Novosti reported.

The committee’s endorsement is a step in parliamentary consideration and does not mean the budget has become law. The proposal sets out expenditure, revenue and deficit projections over three years.

Planned spending in 2027 is 48.8 trillion roubles against revenue of 43.3 trillion. For 2028, expenditure is projected at 50.9 trillion and revenue at 45.8 trillion. The corresponding figures for 2029 are 53.9 trillion and 48.6 trillion roubles.

The forecast deficit is 2.2% of gross domestic product in 2027, declining to 1.9% in each of the following two years, according to the agency’s account.

The stated priorities include meeting social obligations, supporting military personnel involved in Russia’s campaign in Ukraine and their families, and funding defence and national security. The government also identifies technological leadership and infrastructure development among its national goals.