Russia's Government Approves Draft Three-Year Budget

The Russian government has approved a draft budget covering the next three years, according to a report from state news agency TASS. Officials said fulfilling the state's social obligations is among the key priorities of the plan.

Three-year budget cycles are a standard practice for Russia's federal government, intended to give ministries and regional authorities a medium-term framework for planning revenue, spending and deficit levels across sectors including social welfare, defense, infrastructure and economic development.

Social spending in focus

By highlighting social obligations as a top priority, the government signaled continued commitments to pensions, wages for public-sector workers, and other social welfare programs, even as the broader economy contends with the effects of international sanctions and a prolonged war in Ukraine that have reshaped its fiscal priorities in recent years.

The draft budget will need to proceed through further stages of Russia's legislative process, typically including review and approval by the State Duma, the lower house of parliament, before it can take effect for the coming three-year period.

TASS did not provide additional detail in its report on specific spending figures, revenue projections, or the overall size of the draft budget. Further specifics are expected to emerge as the budget moves through subsequent stages of approval.