Duma Budget Panel Clears 2025 Revisions and 2026–2028 Draft for Floor Votes

Overview

• The Budget and Taxes Committee recommended second-reading approval of amendments to the 2025–2027 budget law, with the Duma scheduled to consider them on October 21; chair Andrey Makarov said the bill could pass second and third readings the same day.
• The 2025 update lowers the GDP forecast to 217.29 trillion rubles and sets inflation at 6.8%, with revenues at 36.562 trillion rubles, spending at 42.3 trillion, and a widened deficit of 5.736 trillion; non‑oil revenues are revised down due to slower tax inflows while oil and gas revenues are nudged up.
• The amendments redistribute funding, including 234.9 billion rubles for preferential mortgage programs, 295.7 billion for industrial development, 21.63 billion for transport, 19.55 billion for healthcare, and smaller sums for the defense‑industrial complex and regional energy projects.
• The committee also backed the 2026–2028 federal budget for a first reading on October 22, built on GDP projections of 235.067 trillion rubles in 2026, 255.498 trillion in 2027, and 276.346 trillion in 2028 with annual inflation capped at up to 4%; all 31 relevant Duma committees and a defense‑spending commission supported proceeding.
• For 2026 the draft forecasts revenues of 40.283 trillion rubles and spending of 44.069 trillion, with a deficit of 1.6% of GDP narrowing to 1.2% in 2027 and about 1.3% in 2028, and it provides for a 7.6% pension increase from January 1, 2026, a subsistence minimum of 18,939 rubles, and a minimum wage of 27,093 rubles.