Russia's 2027-2029 Budget Forecast Submitted to Parliament
What happened
The Russian Ministry of Finance submitted the draft three-year budget for 2027–29 to the State Duma on September 30. The draft is based on an economic forecast that projects GDP growth of 1.4% in 2027 and 2.4% in 2029. The budget is expected to be signed into law by Vladimir Putin in early December after passing through the State Duma and the Federation Council.
From sipri.org
Why it matters
The forecast anticipates the annual average inflation rate falling from 6.1% this year to 4.0% by 2028–29. The approval of this budget by the State Duma and Federation Council is a key step toward finalizing Russia's fiscal policy for the next three years.
From sipri.org
Who's involved
- Vladimir PutinIs expected to sign the budget into law in early December.
- State DumaThe lower house of the federal parliament that must approve the budget.
- Federation CouncilThe upper house of the federal parliament that must agree with the budget.
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The entities involved
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Vladimir Putin
2nd and 4th President of Russia (2000-2008, 2012-present), 7th and 11th Prime Minister of Russia (1999-2000, 2008-2012), Director of the Federal Security Service (1998-1999) and Deputy Mayor of Saint Petersburg (1994-1996)
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State Duma
lower house of Federal Assembly of Russia
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Federation Council
upper house of the Federal Assembly of Russia
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