Russian President Vladimir Putin has just signed off on a new federal budget plan that will shape the country’s financial future from 2025 to 2027. This move showcases Russia’s ambitions to boost its economy, invest in its people, and solidify its position on the global stage.
The budget projects that in 2025, Russia will earn about 40.3 trillion rubles (that’s around $378.5 billion). Meanwhile, it plans to spend slightly more—over 41 trillion rubles ($390 billion), resulting in a small budget deficit of 0.5% of the country’s GDP.
So, what’s Russia planning to do with all that money? A whopping 21 trillion rubles ($197.3 billion) is set aside for social programs. This means better healthcare, education, and support for its citizens. Another 14 trillion rubles ($131.5 billion) will go towards defense and law enforcement, aiming to ensure national security. On top of that, 14 trillion rubles are allocated for economic development, focusing on advancing technology and building new infrastructure.
Russia’s economy is expected to grow steadily. Its GDP could rise from 214.5 trillion rubles ($2.02 trillion) in 2025 to 248.3 trillion rubles ($2.33 trillion) by 2027. Inflation is predicted to stay low, below 4.5% in 2025 and dropping to 4% in the years after.
Why does this matter? Russia’s focus on technology and infrastructure might open up opportunities for partnerships with other countries, including those in the Global South. As Russia invests in its economy and people, it could lead to stronger international collaborations and economic growth that resonates beyond its borders.
Reference(s):
cgtn.com
